Vitamix reports the following information for its year ended December 31: Cash sales $ 68,000...
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Accounting
Vitamix reports the following information for its year ended December 31: Cash sales $ 68,000 Sales on credit 98,000 General and administrative expenses 21,000 Sales returns 11,800 Cost of goods sold 82,000 Sales discounts 2,800 Selling expenses 32,000 Use the above information, to compute
(a) net sales and
(b) gross profit.
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