Net Sales - company's net sales for June equal $106,000...

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Net Sales Net sales  is calculated by subtracting sales returns and allowances and sales discounts from sales.  Suppose Music Suppliers, Inc., sells merchandise worth $116,500 during June and, in conjunction  with these sales, handles $9,300 in returns and allowances and $1,200 in sales discounts. The 
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Unformatted text preview: company's net sales for June equal $106,000. Music Suppliers, Inc. Calculation of Net Sales For the Month Ended June 30, 20XX Sales $116,500 Less: Sales Returns and Allowances $9,300 Sales Discounts 1,200 10,500 Net Sales $106,000...
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