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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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