quebuilt The following transactions occured during 2014 for Courtland Corp. which uses a perpetual inventory system (a) January 1: Courtland Corp sold merchandise to star in that cost $3.680 for $4,600 cash (b) January 1: Courtand Corp purchased merchandise from Holden Corp for 56 800 under credit forms of V60, FOB destination (c) January 2 Received a credit memorandum in the amount of $400 acknowledging the return of merchandise purchased from Holden Corp. on January 1 (d) January 4 Courtland Corp purchased merchandise from Bentley inc for $8.300 under credit terms of V60 FOB destination (o) January 5: Courtland Corp sold merchandise to Global Filter Corp. for 35 500 under credit terms of 2/30, V60, FOB shipping point. The merchandise had cost 54 400. (1) January 9 Courtland Corp's merchandise that cost $8 240 was sold to Velor inc for $7800 under credit terms of 2010. 130, FOB destination (9) January 10: Paid $100 shipping charges related to the January 9 sale th) January 16: issued a $700 credit memorandum to Velor Inc. for an allowance on goods sold on January 9. (1) January 19, Received Velor inc's payment of the amount due from the January 9 sale 0) February 4 Received the balance due from Global Filter Corp. for the sale dated January (k) March 2: Paid the balance due to Holden Corp (1) March 5: Paid the amount due to Bentley Inc for the January 4 purchase a) Calculate the net sales for Courtland Corp. during 2014: Net Sales Marking: Your answer was The correct answer was: $16,948 Net sales can be calculated as. Net Sales sales sales discounts - sales returns You will lose 5 marks for this part b) Calculate the cost of goods sold for Courtland Corp. during 2014 Cost of Goods Sold 0 G Marking: Your answer was Type here to search