R&R Lumber reports gross sales of $70,000. If sales returns and allowances are $10,000 and sales discounts are $3,000, what are the net sales?
A. $83,000
B. $63,000
C. $57,000
D. $70,000

Question

R&R Lumber reports gross sales of $70,000. If sales returns and allowances are $10,000 and sales discounts are $3,000, what are the net sales?
  A. $83,000 	
  B. $63,000 	
  C. $57,000 	
  D. $70,000

cj49 · Answer

70-10-3=57

anonymous · Answer

Entries to customers’ accounts for sales are posted in the _______ subsidiary ledger.
  A. Accounts Receivable 	
  B. Accounts Payable 	
  C. Fixed Asset 	
  D. Cash