Selected balances from the general ledger of the Valley Video Rentals on May 31, 2019, are listed below. Use the appropriate data to prepare the Revenue section of the firm's income statement for the month ended May 31, 2019.
$\begin{array}{l|l}
\text { Accounts Receivable } & \$ 25,000 \
\hline \text { Sales } & 65,000 \
\hline \text { Sales Tax Payable } & 3,950 \
\hline \text { Sales Returns and Allowances } & 6,200
\end{array}$

Question

Selected balances from the general ledger of the Valley Video Rentals on May 31, 2019, are listed below. Use the appropriate data to prepare the Revenue section of the firm's income statement for the month ended May 31, 2019.
 $\begin{array}{l|l}
\text { Accounts Receivable } & \$ 25,000 \
\hline \text { Sales } & 65,000 \
\hline \text { Sales Tax Payable } & 3,950 \
\hline \text { Sales Returns and Allowances } & 6,200
\end{array}$

Quizplus · Accepted Answer

The Answer of Selected balances from the general ledger of the Valley Video Rentals on May 31, 2019, are listed below. Use the appropriate data to prepare the Revenue section of the firm's income statement for the month ended May 31, 2019.
 $\begin{array}{l|l}
\text { Accounts Receivable } & \$ 25,000 \
\hline \text { Sales } & 65,000 \
\hline \text { Sales Tax Payable } & 3,950 \
\hline \text { Sales Returns and Allowances } & 6,200
\end{array}$

Selected Balances from the General Ledger of the Valley Video