George's Department Store is a merchandising company that uses the periodic inventory system. Selected account balances are
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Question:
| Sales | $200,000 |
| Purchases | 90,000 |
| Inventory (beginning) | 23,000 |
| Inventory (ending) | 17,000 |
| Purchase returns and allowances | 3,000 |
| Purchase discounts | 7,000 |
| Transportation-in | 4,000 |
| Sales discounts | 8,000 |
| Sales returns and allowances | 5,000 |
Refer to the account information for George's Department Store.
Calculate net sales.
a.$192,000
b.$200,000
c.$187,000
d.$195,000
Expert Answer:
Related Book For 
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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