E6-2 (Algo) Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales L06-1 The following transactions were selected from the records of OceanView Company: July 12 Sold merchandise to Customer R, who charged the $4,700 purchase on his Visa credit card. Visa charges Oceanview a 3 percent credit card fee. 15 Sold merchandise to Customer s at an invoice price of $9,400; terms 2/10, n/30. 20 Sold merchandise to Customer I at an invoice price of $4,400; terms 2/10, n/30. 23 Collected payment from Customer s from July 15 sale. Aug. 25 Collected payment from Customer T from July 20 sale. Required: Assuming that Sales Discounts and Credit Card Discounts are treated as contra-revenues, compute net sales for the two months ended August 31. Net sales