The following transactions were selected from among those completed by Bear’s Retail Store in 2010:
| Nov. 20 |
Sold two items of merchandise to Cheryl Jahn, who paid the $400 sales price in cash. The goods cost Bear’s $300. |
| 25 |
Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,000 (total); terms 3/10, n/30. The goods cost Bear’s $2,500. |
| 28 |
Sold 10 identical items of merchandise to Nancy’s Gym at a selling price of $6,000 (total); terms 3/10, n/30. The goods cost Bear’s $4,000. |
| 29 |
Nancy’s Gym returned one of the items purchased on the 28th. The item was in perfect condition, and credit was given to the customer. |
| Dec. 6 | Nancy’s Gym paid the account balance in full. |
| 30 | Vasko Athletics paid in full for the invoice of November 25, 2010. |
| Required: |
|
Assuming that Sales Returns and Sales Discounts are reported as contra-revenues, compute Net Sales for the two months ended December 31, 2010. (Omit the “$” sign in your response.) |
Is this question part of your Assignment?
We can help
Our aim is to help you get A+ grades on your Coursework.
We handle assignments in a multiplicity of subject areas including Admission Essays, General Essays, Case Studies, Coursework, Dissertations, Editing, Research Papers, and Research proposals
Header Button Label: Get Started NowGet Started Header Button Label: View writing samplesView writing samples