Blossom Company provides the following information for the month ended October 31, 2019; sales on credit $296,100, cash sales $102,300, sales discounts $5,300, and sales returns and allowances $13,100.
Prepare the sales revenues section of the income statement based on this information.

                                        Blossom Company

                             Amount in $         Amount in $

Sales                                                    398,400  

less;

Sales discount      5,300          

Sales returns        13,100

                                                              (18,400)              

Net sales                                               380,000

Explanation:

The sales section shows the net sales which is given as the total sales less all sales discounts and sales returns. Total sales is the sum of cash and credit sales.

Total sales = $102,300 + $296,100

= $398,400

answer; /// the above statement is (true);