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Boynton jewelers reported the following amounts at the end of the year: total sales = $550,000; sales discounts = $12,000; sales returns = $44,000; sales allowances = $17,000. what was the company's net revenues for the year? A. $489,000.B. $485,000.C. $477,000.D. $499 ,000.

Respuesta :

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Answer:

C) $477,000.

Explanation:

net revenues = total sales - sales discounts - sales returns - sales allowances = $550,000 - $12,000 - $44,000 - $17,000 = $477,000

  • Sales discounts are reductions in the sales price, e.g. 10% off.
  • Sales returns are merchandise that was returned by the customers.
  • Sales allowances are sales discounts made when the customer received a defective unit and  instead of returning it, decides to keep it but at a lower price.

Answer:

$477,000

Explanation:

This can be calculated as follows:

                  Boynton Jewelers

Details                                                 $

Total sales                                    550,000

Sales discounts                             (12,000)

Sales returns                                (44,000)

Sales allowances                          (17,000)  

Net revenue                                477,000  

Therefore, the company's net revenues for the year is $477,000.

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