Sunland Company provides this information for the month ende

Sunland Company provides this information for the month ended October 31, 2017: sales on credit $310,000, cash sales $159,900, sales discounts $5,870, and sales returns and allowances $22,700. Prepare the sales section of the income statement based on this information. SUNLAND COMPANY Income Statement (Partial)

Solution

Answer:

Sunland company

Income statement (Partial)

Total sales (310,000+159900)

469,900

Less:

Sales returns and allowances

22700

Sales discounts

5870

28570

Net sales

441,330

Sunland company
Income statement (Partial)
Total sales (310,000+159900)		469,900
Less:
Sales returns and allowances	22700
Sales discounts	5870
		28570
Net sales		441,330