What was the amount of net sales, Accounting Basics

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What was the amount of net sales

Response to the following problem:

For the fiscal year, sales were $8,300,000, sales discounts were $100,000, sales returns and allowances were $45,000, and the cost of merchandise sold was $5,000,000.

a. What was the amount of net sales?

b. What was the amount of gross profit?

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Accounting Basics: What was the amount of net sales

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