Question

You own a jewelry store, and sales last month were $19,000. you had $3,000 in discounts and $1,750 in returns. calculate your net sales for last month.

Answer 1

To find your net sales you will follow the equation:
Net sales = Gross sales - returns, allowances and discounts

Gross sales = $19,000
Returns = $1,750
Discounts = $3,000

Net sales = $19,000 - $1,750 - $3,000
Net sales = $14,250