Please Refer to the Following Trial Balance - How Much Are Net Sales Revenues?
A) $155,000
B)

question 88

Multiple Choice

Please refer to the following trial balance. $$\begin{array} { | l | r | r | } \hline &{ \text { Debit } } & { \text { Credit } } \\\hline \text { Cash } & \$ 5,000 & \\\hline \text { Accounts receivable } & 14,000 & \\\hline \text { Inventory } & 20,000 & \\\hline \text { Supplies } & 5,000 & \\\hline \text { Land } & 100,000 & \\\hline \text { Accounts payable } & & \$ 3,000 \\\hline \text { Notes payable } & & 25,000 \\\hline \text { Capital } & &90,000 \\\hline \text { Drawing } & 1,000 & \\\hline \text { Sales revenues } & & 160,000 \\\hline \text { Sales returns and allowances } &2,000 & \\\hline \text { Sales discounts } & 3,000 & \\\hline \text { Cost of goods sold } &80,000 & \\\hline \text { Salary expense } &5,000 & \\\hline \text { Utility expense } &23,000 & \\\hline \text { Rent expense } & 18,000& \\\hline \text { Interest expense } &2,000 \\\hline \text { Totals } &\$ 278,000 & \$ 278,000 \\\hline\end{array}$$
- How much are Net sales revenues?

• A) $155,000
• B) $160,000
• C) $27,000
• D) $75,000

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