Use the following to answer questions 6-7 MC, Inc., reported the following amounts at the end of the year: Total sales $625,000 Accounts receivable 72,000 Sales allowances 1,100 Allowance for Uncollectible accounts 4,500 Sales discounts 8,200 Sales returns 5,300 6. $ Determine total contra revenues for the company 7. $ Determine net sales for the company Use the following to answer questions 8-11 The following information pertains to JR, Inc. for the month of November: Credit sales Accounts payable Accounts receivable Allowance for Uncollectible accounts Cash sales $800,000 35,000 50,000 150 credit 150,000 JR uses the percent of receivables method and estimates it will not collect 7% of accounts receivable.