The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Wally
Question:
The following transactions were selected from the records of Evergreen Company:
July 12 Sold merchandise to Wally Butler, who paid the $960 purchase with cash. The goods cost Evergreen Company$580.
15 Sold merchandise to Claudio’s Chair Company at a selling price of $4,960 on terms 3/10, n/30. The goods cost Evergreen Company $3,480.
20 Sold merchandise to Otto’s Ottomans at a selling price of $2,980 on terms 3/10, n/30. The goods cost Evergreen Company $1,880.
23 Collected payment from Claudio’s Chair Company from the July 15 sale.
Aug. 25 Collected payment from Otto's Ottomans from the July 20 sale.
Required:
Assuming that Sales Discounts are reported as contra-revenue, compute Net Sales for the two months ended August 31. (Round your answer to 2 decimal places.)
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby