Newark Company Has Provided the Following Information: • Cash Sales,$450,000

question 118

Multiple Choice

Newark Company has provided the following information: • Cash sales,$450,000
• Credit sales,$1,350,000
• Selling and administrative expenses,$330,000
• Sales returns and allowances,$90,000
• Gross profit,$1,360,000
• Increase in accounts receivable,$55,000
• Bad debt expense,$33,000
• Sales discounts,$43,000
• Net income,$1,030,000
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How much are Newark's net sales?

• A)$1,634,000.
• B)$1,800,000.
• C)$1,667,000.
• D)$1,745,000.

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Definitions:

Perishable

Items, especially food or other goods, that can deteriorate or expire quickly if not used or consumed within a short time frame.

Add Value To

The process of enhancing a product or service to increase its desirability and worth to the customer.

Customer Service

The assistance and support provided by a company to those people who buy or use its products or services.

Aging Population

A demographic trend characterized by an increase in the median age of a population, resulting from declining fertility rates and/or rising life expectancy.