1. Hopkins Company sold $800,000 in merchandise during 2020. Of this amount, $500,000 was on credit with terms 3/10, net 40 (1/2 of these amounts were paid within the discount period), $250,000 was paid with MasterCard or Visa (there was a 2.0% credit card discount), and the rest was paid in cash. Calculate net sales for 2020 (show all work)