Newark Company has provided the following information: • Cash sales, $450,000 • Credit sales, $1,350,000 • Selling and a
Posted: Thu May 19, 2022 1:59 pm
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?
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?