: Calculate each of the following 1-Net sales 2-Cost of goods available for sales 3-Gross profit 4-Net profit Bad debts 10,000 Electricity and water 40,000
: Calculate each of the following 1-Net
sales 2-Cost of goods available for
sales 3-Gross profit 4-Net profit
Bad debts 10,000 Electricity and
water 40,000 salary201,000
insurance 98,000 Depreciation
furniture 70,000 Depreciation motor
vehicles 50,000 sales 50,00O Return
inwards 20,000 Opening stock
30,000 Purchases 60,000 Return
outwards 10,0o0 Closing stock
50,000 Interest on loan 110,000
Doubtful debits 89,000 Discount
allowable 66,000 Dividend received
20,000 Rent received 10,000
Discount received 100,000 Bad
debts recovered 80,000 Rent
expenses105,000 Discount allowed
* 60,000
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