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Newark Company has provided the following information: Cash sales, $480,000 Credit sales, $1,380,000 Selling and administrative expenses, $360,000 Sales returns and allowances, $93,000 Gross profit,
Newark Company has provided the following information:
- Cash sales, $480,000
- Credit sales, $1,380,000
- Selling and administrative expenses, $360,000
- Sales returns and allowances, $93,000
- Gross profit, $1,390,000
- Increase in accounts receivable, $58,000
- Bad debt expense, $36,000
- Sales discounts, $46,000
- Net income, $1,030,000
How much are Newark's net sales?
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Cost Accounting A Managerial Emphasis
Authors: Charles T Horngren
6th Edition
0131795082, 978-0131795082
