ACCOUNTING 212 LESSON 1
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True of false , Gross sales = Net sales - ( sales discount+ sales return and allowance )
false , Net sales = Gross sales - ( sales discount+ sales return and allowance )
If gross Purchase = 920 , purchase discount = 10 purchase return = 30 , how much is net purchase ?
920 - ( 10 + 30) = 880
If gross Purchase = 300 , purchase discount = 7, purchase return = 7 , how much is net purchase ?
300 - ( 7+7) = 286
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