Solved: What is amount of net sales from the given transactions, Accounting Basics

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What is amount of net sales from the given transactions

Question:

Silver Co. sold merchandise to Bronze Co. on account, $31,103, terms 2/15, net 45. The cost of the merchandise sold is $14,110. Silver Co. issued a credit memorandum for $2,127 for merchandise returned that originally cost $1,130. The Bronze Co. paid the invoice within the discount period. What is amount of net sales from the above transactions?

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Accounting Basics: What is amount of net sales from the given transactions

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