The following information was taken from Jackson Company'saccounting records for 2007:
sales revenue ............................. $247,000
freight-in ................................ 15,000
purchase returns .......................... 8,000
rent expense .............................. 28,000
beginning inventory ....................... 22,000
bad debt expense .......................... 19,000
purchases ................................. 86,000
cost of goods sold ........................ ?
freight-out ............................... 10,000
sales discounts ........................... 12,000
allowance for doubtful accounts ........... 18,000
purchase discounts ........................ ?
income tax expense ........................ 24,000
ending inventory .......................... 17,000
Jackson Company reported a net income of $65,000 for 2017.
Calculate the amount of purchase discounts reported by JacksonCompany during 2017. Do not use decimals in your answer.
The following information was taken from Jackson Company'saccounting records for 2007:
sales revenue ............................. $247,000
freight-in ................................ 15,000
purchase returns .......................... 8,000
rent expense .............................. 28,000
beginning inventory ....................... 22,000
bad debt expense .......................... 19,000
purchases ................................. 86,000
cost of goods sold ........................ ?
freight-out ............................... 10,000
sales discounts ........................... 12,000
allowance for doubtful accounts ........... 18,000
purchase discounts ........................ ?
income tax expense ........................ 24,000
ending inventory .......................... 17,000
Jackson Company reported a net income of $65,000 for 2017.
Calculate the amount of purchase discounts reported by JacksonCompany during 2017. Do not use decimals in your answer.