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During 2024, its first year of operations, Hollis Industries recorded sales of $11,600,000 and experienced...

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Accounting

During 2024, its first year of operations, Hollis Industries recorded sales of $11,600,000 and experienced returns of $710,000. Cost of goods sold totaled $7,540,000(65% of sales). The company estimates that 7% of all sales will be returned. How much net revenue will Hollis Industries report at the end of its first year of operations?
Net revenue
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