Business, 16.06.2021 01:00, jones501324

One of Hawk Company's customers returned products that cost Hawk $500, which was sold on account for $800. Which of the following correctly describes the affect of the return on the financial statements? Group of answer choices Gross profit decreases $800. Total current assets decrease $300. Sales returns and allowances increase $300. Net sales increase $300.

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One of Hawk Company's customers returned products that cost Hawk $500, which was sold on account for...