Net sales for a business that has cash sales of $42000, credit sales of $88000 will be $42000+ $88000 = $130000
Net sales = Gross sales – Returns – Allowances – Discounts
Gross sales value refers to the total revenue that your business generates before discounts, returns, and allowances
Gross sales can be calculated as the total of cash sales and credit sales.
Net sales in this given problem is calculated as $42,000 cash sales + $88,000 credit sales − $6,300 sales returns and allowances − $1,400 sales discounts = $122,300 net sales. There is no impact of Sales tax payable on the calculation of net sales.
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