Question
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 $1,400 to S. Green and billed that amount subject to terms 3/10, n/30.
6 Sold goods to M. Munoz for $650 and billed that amount subject to terms 3/10, n/30.
14 Collected cash due from S. Green.
Feb.
2 Collected cash due from M. Munoz. '
28 Sold goods for $370 to R. Reynolds and billed that amount subject to terms 3/10, n/45.
Required:
Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months ended
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