Gross Billings for Merchandise Sold by Lang Company to Its

question 107

Multiple Choice

Gross billings for merchandise sold by Lang Company to its customers last year amounted to $11,720,000; sales returns and allowances were $370,000, sales discounts were $175,000, and freight-out was $140,000. Net sales last year for Lang Company were

• A) $11,720,000.
• B) $11,350,000.
• C) $11,175,000.
• D) $11,035,000.

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