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Fill in the appropriate blank figures in the income statement below. $7,500 (A) 250 $7,100 200 Gross sales Sales returns and allowances Less: Cash discounts
Fill in the appropriate blank figures in the income statement below. $7,500 (A) 250 $7,100 200 Gross sales Sales returns and allowances Less: Cash discounts on sales (B) Net Sales Cost of goods sold Inventory, January 1, 2X10 Purchases (gross) (C) Less: Cash discounts on purchases Net Purchases Add: Freight In Total cost of merchandise acquired Cost of goods available for sale Inventory, December 31, 2X10 Cost of goods sold Gross Profit $3,210 275 280 (D) 2,705 2,905 280 (E) $(F) 10) (A). Net Sales 12) (C) 13) (D) 14) (E) 15) (F)
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