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Newark Company has provided the following information: . Cash sales, $570,000 Credit sales, $1,470,000 Selling and administrative expenses, $450,000 Sales returns and allowances, $102,000 Gross
Newark Company has provided the following information: . Cash sales, $570,000 Credit sales, $1,470,000 Selling and administrative expenses, $450,000 Sales returns and allowances, $102,000 Gross profit, $1,480,000 Increase in accounts receivable, $67,000 Bad debt expense, $45,000 Sales discounts, $55,000 Net income, $1,030,000 . . . How much are Newark's net sales? $1,883,000. $1,973,000. $2,040,000. $1,838,000
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