d. Accounts Receivable Sales Revenue to reduce the selling price, this transaction is known as a sales a. discount b. return If a customer agrees to retain merchandise that is defective because the seller Ayala Company sells merchandise on account for $9,000 to Verde Compan terms of 2/10, ao verde Company returns $1,600 of merchandise that we along with a check to settle the aceount within the discount period. What is c. contra asset allowance. the $.350 $7.200 $8, 820 d, 57, 320 All of the following are contra revenue accounts except a. sales revenue 10. b. sales allowances. c. sales discounts. d. sales returns. d below. Sales Revenue ???? Cost of Goods Sold Sales Returns and Allowances 40,000 Gross Profit Net Sales 850,000 The missing amounts above are: Sales Revenue Gross Profit a. $890,000 b. $810,000 c. $890,000 d. $810,000 $340,000 $340,000 $300,000 $380,000 12. Financial information is presented below: Operating Expenses Sales Revenue Cost of Goods Sold 65,000 220,000 138,000 Gross profit would bee a. $17,000. b. $82,000. c. $155,000. d. $220,000