nent 37 AM / Remaining: 36 min. CALCULATOR FULL SCREEN PRINTER VERSION Question
ID: 2436519 • Letter: N
Question
nent 37 AM / Remaining: 36 min. CALCULATOR FULL SCREEN PRINTER VERSION Question 16 Sampson Company's accounting records show the following for the year ending on December 31, 2017. 11200 15600 700020 47000 57600 12800 Purchase Discounts Freight-in Purchases Beginning Inventory Ending Inventory Purchase Returns and Allowances Using the periodic system, the cost of goods purchased is $691620. $717220 $708420. $660420 Click if you would like to Show Work for this question: O pen Show Work vasy Polisoy 1 2000-2018 20hn. Wiley & Sons.Inc. All Rights Reserved. A Diwision of 2ohn Wiley &Sons.inc;Explanation / Answer
Answer - $5,880
Net sales = Gross sales - sales returns
Net sales = $7,500 - $1,500 = $6,000
Disount amount = $6,000 x 0.02 = $120
Amount of the check = $6,000 - $120 = $5,880
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