Accounting MCQ
Accounting
A company reported the following amounts at the end of the year: total sales revenue = $624,000; sales allowances = $6,000; sales returns = $22,000; net revenues = $588,000. What amount did the company report for sales discounts for the year?
A company reported the following amounts at the end of the year: total sales revenue = $624,000; sales allowances = $6,000; sales returns = $22,000; net revenues = $588,000. What amount did the company report for sales discounts for the year?
A company reported the following amounts at the end of the year: total sales revenue = $624,000; sales allowances = $6,000; sales returns = $22,000; net revenues = $588,000. What amount did the company report for sales discounts for the year?
A) $28,000.
B) $8,000.
C) $16,000.
D) $22,000.
Answer: $8,000.
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