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accounting homework help?
What is net sale revenue
Sales revenue 125,000
cost of good sold 75,000
operating expenses 12,000
Sales discounts 5,000
sales returns and allowances 3,000
Interest revenue 2,400
I know I need to subtract sales and I know how to get GP but the other numbers not sure what to do. Thanks.
1 Answer
- anonymousLv 78 years agoFavorite Answer
Interest revenue doesn't come into this question because that is unrelated to sales.
Actually, I think that only the accounts that matter for this calculation are the ones that start with the word 'sales'
(It's very common for accounting textbooks questions to include unneeded information).
~~~~~~
Sales revenue ............................... 125,000
- Sales discounts ............................ (5,000)
- Sales returns and allowances ......... (3,000)
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Net sales revenue .......................... 117,000