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The following account balances appeared on the companys trial balance at year-end: Sales Returns and Allowances $ 550 Accounts Receivable 9,500 Sales Discounts 950 Sales

The following account balances appeared on the companys trial balance at year-end: Sales Returns and Allowances $ 550 Accounts Receivable 9,500 Sales Discounts 950 Sales Revenue 62,200 Selling, General, and Administrative Expenses 550 The amount of net sales reported on the income statement would be: $62,200. $69,700. $60,150. $60,700.

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