At the end of the current year, a company has the following amounts:
During the Current Year, and Estimated for Next Year
CY ENY
Sales returns $7,200 $8,300
Sales allowances $12,500 $9,100
Sales discounts $2,400 $ 2,600
For what amount would the company report sales returns in its current-year income statement?
A) $7,200.
B) $9,500.
C) $15,500.
D) $22,100.
Answer: $15,500.
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