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Exercise 5-17 (Algo) Computing net sales for multiple-step income statement LO P4 A company reports the following sales-related information. Sales, gross $ 245,000 Sales returns

Exercise 5-17 (Algo) Computing net sales for multiple-step income statement LO P4

A company reports the following sales-related information.

Sales, gross $ 245,000 Sales returns and allowances $ 20,000
Sales discounts 4,900 Sales salaries expense 10,900

Prepare the net sales portion only of this company's multiple-step income statement.

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