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The following transactions were selected from the records of OceanView Company: July 12 Sold merchandise to Customer R, who charged the $4,600 purchase on his
The following transactions were selected from the records of OceanView Company: July 12 Sold merchandise to Customer R, who charged the $4,600 purchase on his Visa credit card. Visa charges Oceanview a 1 percent credit card fee. July 15 Sold merchandise to Customer S at an invoice price of $9,400; terms 4/10,n/30. July 20 Sold merchandise to Customer T at an invoice price of $5,700; terms 4/10,n/30. July 23 Collected payment from Customer 5 from July 15 sale. August 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 month ended August 31
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