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E 6 - 3 ( Algo ) Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales LO 6 - 1
EAlgo Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales LO
The following transactions were selected from among those completed by Bennett Retallers in November and December:
November
November
November
November
December
December
Sold items of merchandise to customer B at an invoice price of $total; terms
Sold tw items of merchandise to Customer who charged the $total sales price on her visa cmedit
card, Visa charges Bennett Retailers a percent credit card fee.
Sold identical items of merchandise to customer at an invoice price of $total; terms
Customer D returned one of the items purchased on the the item was defective and credit was given to the customer.
Customer D paid the account balance in full.
Customer paid in full for the invoice of November
Requlred:
Assume that Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts are treated as contrarevenues; compute net sales for the two months ended December
Note: Do not round your Intermedlate calculations. Round your answer to the nearest whole dollar amount.
Answer is complete but not entirely correct.
Net sales
s
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