Question
NoEasy Company reported the following balances at June 30, 2021: Gross Sales Php 15,570,000 (all sales are given 4/15, n/45 settlement period) Sales Returns and
NoEasy Company reported the following balances at June 30, 2021:
Gross Sales Php 15,570,000 (all sales are given 4/15, n/45 settlement period)
Sales Returns and Allowances Php 820,000
Cost of Goods Sold Php 12,000,000
All unreturned/valid sales for June were collected within the discount period.
1. Net sales for the month is?
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
