Accounting Dictionary
Net Sales
Net sales is total sales including both cash and credit sales minus returns, allowances, and discounts.
The income statement starts with gross or total sales, then subtracts merchandise that was returned, the merchandise that was discounted because of defects, and the sales discounts that were taken. This gives us net sales.
https://accounting.uworld.com/cpa-review/lc/accounting-dictionary/term/net-sales/
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