Examlex
A significant increase in the price of basketballs will most likely lead to
Sales Return
goods returned by the customers to the seller after the sale, reducing the gross sales figure.
Gross Profit
The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.
Net Sales
The revenue a company earns from sales after subtracting returns, allowances for damaged or missing products, and discounts.
Allowance for Doubtful Accounts
A contra-asset account used to estimate the portion of accounts receivable that is expected to be uncollectible.
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