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Calculate for month of april the company total gross sales

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Reference no: EM132960893

During the month of April, a company had the following transactions related to sales:

  • Sold $65,000 of goods for cash.
  • Sold $355,000 of goods on account, with terms of 3/15, n/45. At this amount, customers settled (made payment on) $200,000 of invoices within 15 days of their purchases.
  • Sold $580,000 of goods to customers who used bank credit cards. The merchant fee for these transactions was 2.5 percent of the purchase.
  • Refunded $2,200 to the customers who returned products.

Problem 1: Based on this information, calculate for the month of April the company's (a) total gross sales revenue, (b) net sales revenue, and (c) sales related expenses.

 

Reference no: EM132960893

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