nts eBook Print ferences E6-2 (Algo) Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales LO6-1 The following transactions were selected from the records of OceanView Company: July 12 July 15 July 20 July 23 August 25 Sold merchandise to Customer R, who charged the $3,000 purchase on his Visa credit card. Visa charges OceanView a 2 percent credit card fee. Sold merchandise to Customer S at an invoice price of $10,300; terms 3/10, n/30. Net sales Sold merchandise to Customer T at an invoice price of $6,000; terms 3/10, n/30. Collected payment from Customer S from July 15 sale. 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.

E6-2 (Algo) Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales LO6-1 The following transactions were selected from the records of OceanView Company: July 12 Sotd merchandise to customer R, who charged the $3,080 purchase on his Visa credit card. Visa July 15 charges oceanView a 2 percent credit card fee. Juty 20 Sold merchandise to Customer S at an invoice price of $10,300; terns 3/10,n/30. July 23 Collected pandise to Customer T at an invoice price of $6,e00; terns 3/10,n/30. August 25 Collected payment from Customer 5 from July 15 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