Answer:
$35,000
Explanation:
The net revenues of the any company shall be determined through following mentioned formula:
Net revenues=Gross revenues-sales returns-sales discount-sales allowances
Data from the given question shall be used in the above mentioned equation to determine sales returns as follows:
$440,000=$500,000-sales returns-$10,000-$15,000
Sales returns=$35,000
So based on the above calculations, the answer is $35,000
Answer:
The correct answer is $475,000
Explanation:
The question is asking for us to find sales return, which is the net amount recorded on sales of a product, after the expenses incurred during sales have been deducted. To calculate this, we will subtract the total expenses associated with sales from the total sales. This is shown as follows;
Sales revenue = $500,000
Sales discount = $10,000
Sales allowances = $15,000
Sales return = Sales revenue - ( sales discount + sales allowance)
= 500,000 - (10,000 + 15,000) = 500,000 - 15,000 = $475,000
Note that we ignore net revenues because it is not relevant in calculating the sales return, it was in fact calculated using the data from the sales return.
