E6-1 Reporting Net Sales with Credit Sales and Sales Discounts LO6-1 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 $700 to S. Green and billed that amount subject to terms 1/10, n/30. 6 Sold goods to M. Munoz for $600 and billed that amount subject to terms 1/10, n/30. 14 Collected cash due from S. Green. Feb. 2 Collected cash due from M. Munoz. 28 Sold goods for $530 to R. Reynolds and billed that amount subject to terms 1/10, n/45. Required: Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months ended February 28.