Question

If a company records $42.5m in Revenues for the year and the balances in Sales Discounts and Sales Returns are $2m and $1.5mOn December 23rd, 2019 Nike shipped goods to REI. The invoice was for $125,000 and specified FOB destination. The goods arrivOn December 23rd, 2019 Nike shipped goods to REI. The invoice was for $125,000 and specified FOB shipping point. The goods arREI purchases goods from Nike and on the invoices Nike specifies 4/10, n30. This means that REI will receive a [Select] disco

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Answer #1

The correct answer is 39.

Supporting calculations:

Sales Revenues $42.5 m
Less: Sales Discounts $2m
Less: Sales Returns $1.5m
Net Sales Revenue $39m
Therefore, answer is 39.
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