Kids, Inc., is a wholesaler of toys and games. Kids sales for a recent year were $870,000.
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Kids, Inc., is a wholesaler of toys and games. Kid’s sales for a recent year were $870,000. Kids, Inc., offers a 2 percent discount to its customers for payment within 10 days. During the year, companies representing 60 percent of sales took advantage of this discount. In addition, $15,000 of sales were returned and received credit against the balance they owed. What was the amount of net sales for the year?
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Related Book For
Financial And Managerial Accounting The Basis For Business Decisions
ISBN: 9781264445240
20th Edition
Authors: Jan Williams, Susan Haka, Mark Bettner
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