Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Transcribed Image Text:Tanishk Manufacturing has gross sales of $45,000 for
the year. Its cost for the goods sold is $28,000.
Returns and allowances amounted to $3,500. It
purchased equipment normally selling for $12,000 at
a 25% discount.
Based on these facts, what is its total gross income
for the year?
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