Answers

1. The net sales is $46,0000

   What is Gross sales?

   Gross Sale is the total of goods sold to the customers during a period. The goods can be sold on a cash basis or an account basis. The net sale is calculated as the gross sales minus sales returns and allowances and discounts on the sale.

   Given:

   sales= $50,000

   sales returns = $4000

   Now,

   Net Sale = Gross Sale – Sales returns and allowances

   = $50,000 – $4,000

   = $46,000

   Hence, the net sales is $46,000

   Learn more about this concept here:

   https://brainly.com/question/13498857

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   The complete question is

   If a firm had sales of $50,000 during a period and sales returns and allowances of $4,000, its net sales were:

   A. $46,000

   B. $50,000

   C. $4,000

   D. $54,000

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