QUESTION 34 Fenn Stores, Inc. had sales of $9.000.000 during December. year 2. Experience has shown that merchandise equaling 8% of sales will be returned within thirty days and an additional 5% will be returned within ninety days. Returned merchandise is readily resalable. In addition, merchandise equaling 10% of sales will be exchanged for merchandise of equal or greater value. What amount should Fenn report for net sales in its income statement for the month of December year 27 O 58.100,000 O $6,930,000 O $7,830,000 0 $8,280,000