Question: E 6 - 1 ( Static ) Reporting Net Sales with Credit Sales and Sales Discounts LO 6 - 1 During the months of January

E6-1(Static) Reporting Net Sales with Credit Sales and Sales Discounts LO6-1
During the months of January and February, Hancock Corporation sold goods to three customers. The sequence of events was as follows:
January 6 Sold goods for $1,500 to S. Green and billed that amount subject to terms 210,n30.
January 6 Sold goods to M. Munoz for $850 and billed that amount subject to terms 210,n30.
January 14 Collected cash due from S. Green.
February 2 Collected cash due from M. Munoz.
February 28 Sold goods for $400 to R. Reynolds and billed that amount subject to terms 2/10, n/45.
Required:
Assuming that Salet Discounts is treated as a contra-revenue, compute net sales for the two months ended February 28.
Net sales
 E6-1(Static) Reporting Net Sales with Credit Sales and Sales Discounts LO6-1

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