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January 8, you sell 20 desk lamps to We Be Studying Tutors for $10 each with the terms 5/10, x/30. On January 11th, your customer
January 8, you sell 20 desk lamps to We Be Studying Tutors for $10 each with the terms 5/10, x/30. On January 11th, your customer calls to tell you 6 lamps are damaged and they return them to you. The next day, they call to say 4 more lamps are a shade darker than the remaining 14 lamps. You offer them an allowance of $10 if they will keep them. On Jan 15 th, they pay their account in full. The desk lamps cost you $5 each. What is the value of the gross sale? What is the value of your sales returns and allowances? What is the sales discount? What is the value of the net sales? What is your COGS? Show your work
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