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During the months of January and February, Hancock Corporation sold goods to three customers. The sequence of events was as follows: Jan. 6 Sold goods
During the months of January and February, Hancock Corporation sold goods to three customers. The sequence of events was as follows:
Jan. | 6 | Sold goods for $1,200 to S. Green and billed that amount subject to terms 2/10, n/30. | ||
6 | Sold goods to M. Munoz for $660 and billed that amount subject to terms 2/10, n/30. | |||
14 | Collected cash due from S. Green. | |||
Feb. | 2 | Collected cash due from M. Munoz. | ||
28 | Sold goods for $540 to R. Reynolds and billed that amount subject to terms 2/10, n/45. |
Required:
Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months ended February 28.
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