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7 November, 15:20

C Company reported the following balances at June 30, the end of the fiscal year: Sales $10,800 Sales Returns and Allowances 400 Sales Discounts 200 Cost of Goods Sold 5,000 Net sales for the month would be Select one: a. $5,200 b. $10,200 c. $10,400 d. $10,800 e. None of the above g

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  1. 7 November, 19:18
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    Option (b) is correct.

    Explanation:

    Given that,

    Balances at June 30, the end of the fiscal year:

    Sales = $10,800

    Sales Returns and Allowances = $400

    Sales Discounts = $200

    Cost of Goods Sold = $5,000

    Net sales for the month:

    = Sales - Sales Returns and Allowances - Sales Discounts

    = $10,800 - $400 - $200

    = $10,200

    Therefore, the net sales for the month of June is $10,200.
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