Refer to the following trial balance. How much are net sales revenues?
A)$465,000
B)$480,000
C)$102,000
D)$96,000

Question

Refer to the following trial balance.  How much are net sales revenues?
A)$465,000 
B)$480,000 
C)$102,000 
D)$96,000

Quizplus · Accepted Answer

Net sales revenues are calculated by subtracting the total amount of returns and allowances as well as sales discounts from the total sales revenue. In this trial balance, the total sales revenue is $500,000 and the total amount of returns and allowances is $35,000. Therefore, the net sales revenues are $465,000.

Refer to the Following Trial Balance