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What is the total dollar amount of net sales reported

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Problem - During 2019, Varela Inc. had gross sales totaling $1,000,000 all sold on credit. Sales returns were $80,000. Subsequent to the returns, customers paid the receivables taking the available sales discounts of 2%. Uncollectible Accounts expense of $5,000 was also recorded during the period. What is the total dollar amount of net sales reported on the Income Statement for 2019?

Reference no: EM132894516

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