Question
During the month of April, a company had the following transactions: - Sold $65,000 of goods for cash - Sold $355,000 of goods on account,
During the month of April, a company had the following transactions:
- Sold $65,000 of goods for cash
- Sold $355,000 of goods on account, with terms of 3/15, n/45. Of this amount, customers made payment on $200,000 of invoices within 15 days of their purchase.
- Sold $580,000 of goods to customers who used bank credit cards. The merchant fee for these transactions was 2.5 percent of their purchase.
- Refunded $2,200 to customers who returned the products.
Calculate the month of April's a) total/gross revenue, b) net sales revenue, c) sales related expense for the company.
Show all work including calculations.
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