The following information were extracted from the books of Al-Fanar Company on December 31, 2020.
Required: Calculate the following accounts using the below table.

1. Net Sales =

2. Net Purchases =

3. Cost of Purchase =

4. Gross Profit =

5. Total Expenses =

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The following information were extracted from the books of Al-Fanar Company on December 31, 2020. Required: Calculate the following accounts using the below table. (Show calculation) 1. Net Sales = * (5 Points) Account Title BD Account Title BD Repair Expense 10,000 Sales 145,000 Sales returns 25,000 Purchase Discount 10,000 Cost of goods available for 74,000 Electricity expense 9,000 sales Purchases 60,000 Opening Inventory 20,000 Ending Inventory 40,000 Net Sales ??? Net Profit 120,400 Carriage In 3,000 Salaries Expense 4,000 Cost of Goods Sold 34,000 The following information were extracted from the books of Al-Fanar Company on December 31, 2020. Required: Calculate the following accounts using the below table. (Show calculation) 1. Net Sales = * (5 Points) Account Title BD Account Title BD Repair Expense 10,000 Sales 145,000 Sales returns 25,000 Purchase Discount 10,000 Cost of goods available for 74,000 Electricity expense 9,000 sales Purchases 60,000 Opening Inventory 20,000 Ending Inventory 40,000 Net Sales ??? Net Profit 120,400 Carriage In 3,000 Salaries Expense 4,000 Cost of Goods Sold 34,000

Answer rating: 100% (QA)

1 Net sales amount to 120000 2 Net ... View the full answer