Calculate net sales associated with these transactions

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Reference no: EM131520199

Question: On April 25, Foreman Electric installs wiring in a new home for $2,500 on account. However, on April 27, Foreman's electrical work does not pass inspection, and Foreman grants the customer an allowance of $500 because of the problem. The customer makes full payment of the balance owed, excluding the allowance, on April 30.

Required: 1. Record the credit sale on April 25.

2. Record the sales allowance on April 27.

3. Record the cash collection on April 30.

4. Calculate net sales associated with these transactions.

Reference no: EM131520199

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