Newark Company has provided the following information:

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answerhappygod
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Newark Company has provided the following information:

Post by answerhappygod »

Newark Company has provided the following information:

• Cash sales, $450,000
• Credit sales, $1,350,000
• Selling and administrative expenses, $330,000
• Sales returns and allowances, $90,000
• Gross profit, $1,360,000
• Increase in accounts receivable, $55,000
• Bad debt expense, $33,000
• Sales discounts, $43,000
• Net income, $1,030,000

How much are Newark's net sales?

A. $1,634,000.
B. $1,800,000.
C. $1,667,000.
D. $1,745,000.


C. $1667000
Net sales, $1,667,000 = $450,000 + $1,350,000 - $90,000 - $43,000.
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