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Taras Treasures has the following balances: Sales $550,000 CR Cost of Goods Sold $230,000 DR Sales Returns and Allowances $50,000 DR Freight/Shipping Expense $25,000 DR
Taras Treasures has the following balances:
Sales $550,000 CR
Cost of Goods Sold $230,000 DR
Sales Returns and Allowances $50,000 DR
Freight/Shipping Expense $25,000 DR
Sales Discount $10,000 DR
Accounts Receivable $250,000 DR
Calculate the following balances:
What is the Net Sales?
What is the Gross Profit?
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