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E 6 - 1 ( Static ) Reporting Net Sales with Credit Sales and Sales Discounts LO 6 - 1 During the months of January
EStatic Reporting Net Sales with Credit Sales and Sales Discounts LO
During the months of January and February, Hancock Corporation sold goods to three customers. The sequence of events was as follows:
January Sold goods for $ to Green and billed that amount subject to terms
January Sold goods to M Munoz for $ and billed that amount subject to terms
January Collected cash due from S Green.
February Collected cash due from M Munoz.
February Sold goods for $ to R Reynolds and billed that amount subject to terms n
Required:
Assuming that Salet Discounts is treated as a contrarevenue, compute net sales for the two months ended February
Net sales
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