Question
The following transactions were selected from among those completed by Bears Retail Store: Nov. 20 Sold two items of merchandise to Cheryl Jahn, who paid
The following transactions were selected from among those completed by Bears Retail Store:
Nov. 20
Sold two items of merchandise to Cheryl Jahn, who paid the $400 sales price in cash. The goods cost Bears $300.
25
Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,000 (total); terms 3/10, n/30. The goods cost Bears $2,500.
28
Sold 10 identical items of merchandise to Nancys Gym at a selling price of $6,000 (total); terms 3/10, n/30. The goods cost Bears $4,000.
29
Page 291Nancys Gym returned one of the items purchased on the 28th. The item was in perfect condition and credit was given to the customer.
Dec. 6
Nancys Gym paid the account balance in full.
30
Vasko Athletics paid in full for the invoice of November 25.
Required:
Compute the total revenue to be reported over the two months.
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