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Calculate net sales: Cost of goods sold $74,500 Sales revenue $112,800 Operating expenses $23,600 Sales returns $4,600 Sales discounts $6,700 Inventory purchases $80,530

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Accounting

Calculate net sales:

Cost of goods sold$74,500
Sales revenue$112,800
Operating expenses$23,600
Sales returns$4,600
Sales discounts$6,700
Inventory purchases$80,530

Answer & Explanation Solved by verified expert
4.4 Ratings (583 Votes)
Sales discount is a reduction in the price of product or service offered by the seller in exchange of early payment by the buyer The sales discount appears in income statement    See Answer
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