Chapter 6, Problem 2MCQ

Gross sales total $300,000, one-half of which were credit sales. Sales returns and allowances of $15,000 apply to the credit sales, sales discounts of 2 percent were taken on all of the net credit sales, and credit card sales of $100,000 were subject to a credit card discount of 3 percent. What is the dollar amount of net sales?

1. a. $227,000
2. b. $229,800
3. c. $279,300
4. d. $240,000