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Total sales less the sales price of any goods returned by customers, less any reduction in price given to customers, less cash discounts allowed by

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Total sales less the sales price of any goods returned by customers, less any reduction in price given to customers, less cash discounts allowed by the seller, is called gross profit gross margin net sales cost of goods sold Question 39 (2 points) Customers can be told their account balances at any time because of the existence of the source document special journal subsidiary ledger controlling account Question 40 ( 2 points) Sales tax must generally be paid by all the following EXCEPT: by the retailer if they are going to use the item instead of resell it all of these are subject to sales tax by the final customer of the new product by the final customer of a service

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