Question
During the months of January and February, Solitare Corporation sold goods to three customers. The sequence of events was as follows: Jan. 6 Sold goods
During the months of January and February, Solitare Corporation sold goods to three customers. The sequence of events was as follows: Jan. 6 Sold goods for $70 to Wizard Inc. with terms 2/10, n/30. The goods cost Solitare $64. 6 Sold goods to Spyder Corp. for $62 with terms 3/10, n/30. The goods cost Solitare $54. 14 Collected cash due from Wizard Inc. Feb. 2 Collected cash due from Spyder Corp. 28 Sold goods for $98 to Bridges with terms 3/10, n/45. The goods cost Solitare $62. Required: Assuming that Sales Discounts are reported as contra-revenue, compute Net Sales for the two months ended February 28.
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