Net Profit is Calculated as: A Done Net Sales - Operating Expenses Gross Profit - Cost of Goods Sold Net Sales - Cost of Goods Sold Gross Profit - Operating Expenses If the two totals of a trial balance do not agree, the difference must be entered in: Done A Nominal Account A Suspense Account The Statement of Profit or Loss The Capital Account Credit Notes sent to customers are recorded in: ( r Done Sales Returns Day Book Journal Sales Day Book Purchase Returns Day Book