E6-3 (Algo) Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales LO6-1 The following transactions were selected from among those completed by Bennett Retailers in November and December Nov. 20 Sold 20 items of merchandise to Customer 6 at an invoice price of $6,200 (total)teras 2/10, 1/30. 25 Sold two items of merchandise to customer who charged the $600 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 2 percent credit card fee. 28 Sold le identical Items of merchandise to Customer Dat an invoice price of $9.000 (total); teras 2/10, 30. 29 Customer returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. Dec. Customer o paid the account balance in full. 20 Customer paid in full for the invoice of November 20. Required: Assume that Sales Returns and Allowances, Sales Discounts and Credit Card Discounts are treated as contra-revenues, compute net sales for the two months ended December 31. (Do not round your intermediate calculations. Round your answer to the nearest whole dollar amount.) Prev 1 of 5 8 Next > E6-4 (Algo) Determining the Effects of Credit Sales, Sales Discounts, Credit Card Sales, and Sales Returns and Allowances on Income Statement Categories L06-1 Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra revenues July 12 Sold merchandise to customer at factory store who charged the $500 purchase on her American Express card. American Express charges a 2 percent credit card fee. Cost of goods sold was $375. July 15 Sold merchandise to customer T at an Invoice price of $6.000; teres 2/10, 10. Cost of goods sold was 9,000. July 20 collected cash due from Customer T. July 21 before paying for the order, a customer returned shoes with an invoice price of $1,300 cost of goods sold was $780. Complete the following table by entering the amounts of the effects of each transaction, including the related cost of goods sold indicate decreases with a minus sign.) Transaction Net Sales Cost of Goods Sold TOSS Profit July 12 July 15 July 20 July 21