Question
A company has provided the following information: Cash sales 500,000 Credit sales 1,200,000 Selling & administrative expenses 250,000 Sales returns & allowances 100,000 Gross profit
A company has provided the following information:
| Cash sales | 500,000 |
| Credit sales | 1,200,000 |
| Selling & administrative expenses | 250,000 |
| Sales returns & allowances | 100,000 |
| Gross profit | 900,000 |
| Increase in accounts receivable | 75,000 |
| Bad debt expense | 30,000 |
| Sales discounts | 50,000 |
| Net income | 750,000 |
How much are the company's net sales?
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Intermediate Accounting Volume 2
Authors: Thomas H. Beechy
5th Edition
0071091319, 978-0071091312
