Nelson company provudes the following information for the month ended October 31

Question

Nelson company provudes the following information for the month ended October 31 2017. sales on credit 343200, cash sales 105900, sales discounts 6300 and sales returns and allowances 10400. prepare the sales section of the income statement for this information.

Brief Exercise 5-8 Nelson Company provides the following information for the month ended October 31, 2017: sales on returns and allowances $10,400. Prepare the sales section of the income statement based on this information. NELSON COMPANY Income Statement (Partial) SHOW LIST OF ACCOUNTS LINK TO TEXT ?

Explanation / Answer

Exercise 5-8:

Nelson Company Income Statement ( Partial ) Cash Sales $ 105,900 Credit Sales 343,200 $ 449,100 Less: Sales Returns and Allowances 10,400 Sales Discounts 6,300 16,700 Net Sales $ 432,400

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