What amount would Pharoah report as net sales in the September income statement? Net Sales \$ On September 1, Pharoah Office Supply had an inventory of 34 calculators at a cost of $21 each. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 6 Purchased 74 calculators at $23 each from Danny Co. for cash. 9 Paid freight of $74 on calculators purchased from Danny Co. 10 Returned 5 calculators to Danny Co. for $120 credit (including freight) because they did not meet specifications. 12 Sold 37 calculators ( 34 costing $21, and 3 costing $24 including freight) for $37 each to Great Big Book Store, terms n/34. 14 Granted credit of $37 to Great Big Book Store for the return of one calculator that was not ordered. The calculator cost $24. 20 Sold 44 calculators costing $24 for $37 each to Bush's Card Shop, terms n/34. Date Account Titles and Explanation Sept, 6 Inventory DebitCredit1702 Sept.9 + Inventory 74 1702 Sept. 12 Cost of Goods Sold Itwentory (Sales recorded) Sept.14 14 Sales Returns and Allowances Accounts Receivable (Return entry recorded) Sept.14 Inventory Cost of Goods Sold (Goods dispatched for sales) sept,20 Accounts Receivable 5ales Revenue 1628 (Receivables executed for sales) (Receivables executed for sales) 1056 1056 (Sales recorded)