A company has the following information: 8 Total revenues Sales returns and allowances Sales discounts Ending inventory $ 860,000 $ 50,000 $ 30,000 $100,000 What is the amount of net revenues for the company? Multiple Choice $680,000. $780,000 $230,000. $330,000 9 In January, 2021, Summit Department Store sells a gift card for $50 and receives cash. In February, 2021, the customer comes back and spends $20 of the gift card to purchase a water bottle. What would be the appropriate journal entry for the customer's purchase of the water bottle in February? Multiple Choice No journal entry is necessary. Debit Deferred Revenue, $50, credit Sales Revenue, $50. Debit Sales Revenue, $20 credit Deferred Revenue, $20. Debit Deferred Revenue, $20 credit Sales Revenue, $20 Given the information below, what is the gross profit? 10 Sales revenue Accounts receivable Ending inventory Cost of goods sold Sales returns $310,000 55,000 116,000 236,000 25,000 Multiple Choice $52,000. O $169,000 $74,000. $49,000