The following transactions were selected from among those completed by Bennett Retailers in November and December:
Nov. | 20 | Sold 20 items of merchandise to Customer B at an invoice price of $5,500 (total); terms 3/10, n/30. | ||
25 | Sold two items of merchandise to Customer C, who charged the $400 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 2 percent credit card fee. | |||
28 | Sold 10 identical items of merchandise to Customer D at an invoice price of $9,000 (total); terms 3/10, n/30. | |||
29 | Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. | |||
Dec. | 6 | Customer D paid the account balance in full. | ||
20 | Customer B paid in full for the invoice of November 20. |
Required:
Assume that Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts are treated as contra-revenues; compute net sales for the two months ended December 31. (Do not round your intermediate calculations.)
Net Sale=
Gross sales | 14900 | =5500+400+9000 |
Less: Sales returns | -900 | |
Less: Credit card fee | -8 | =400*2% |
Less: Sales discount to Customer D | -243 | =(9000-900)*3% |
Net Sales | 13749 |
The following transactions were selected from among those completed by Bennett Retailers in November and December:...
Check The following transactions were selected from among those completed by Bennett Retailers in November and December Nov. 20 Sold 20 items of merchandise to Customer Bat an invoice price of $6.100 (total) terms 3/10, n/30. 25 Sold two items of merchandise to Customer C, who charged the $700 (total) sales price on her Visa credit card. Visa charges Bennett Retailers & 2 percent credit card fee. 28 Sold 10 identical items of merchandise to Customer Dat an invoice price...
9 11.11 points The following transactions were selected from among those completed by Bennett Retailers in November and December: Nov. 20 sold 20 items of merchandise to Customer B at an invoice price of $6,400 (total); terma 3/10, n/30. 25 sold two items of merchandise to Customer c, who charged the $400 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 1 percent credit card fee. 28 Sold 10 identical Items of merchandise to Customer D...
The following transactions were selected from among those completed by Cadence Retailers November and December: Nov. 20 Sold 20 items of merchandise to Customer B at an invoice price of $6,400 (total); terms 2/10, n/30. 25 Sold two items of merchandise to Customer C, who charged the $700 sales price on her Visa credit card. Visa charges Cadence Retailers a 3 percent credit card fee. 28 Sold 10 identical items of merchandise to Customer D at an invoice price of...
The following transactions were selected from among those completed by Cadence Retailers November and December: Nov. 20 Sold 20 items of merchandise to Customer B at an Invoice price of $6.000 (total): terms 2/10. n/30 25 Sold two items of merchandise to Customer C, who charged the $700 sales price on her Visa credit card. Visa charges Cadence Retailers a 1 percent credit card fee. 28 Sold 10 identical items of merchandise to Customer D at an invoice price of...
0.90 points The following transactions were selected from among those completed by Cadence Retailers in 2013 Nov. 20 Sold 20 items of merchandise to Customer B at an invoice price of $6,500 (total); terms 2/10, 25 Sold two items of merchandise to Customer C, who charged the $600 sales price on 28 Sold 10 identical items of merchandise to Customer D at an invoice price of $9,000 (total); terms 29 Customer D returned one of the items purchased on the...
The following transactions were selected from among those completed by Hailey Retailers in the current year. Nov. 20 Sold two items of merchandise to Customer B, who charged the $450 (total) sales price on her Visa credit card. Visa charges Hailey a 2 percent credit card fee. 25 Sold 14 items of merchandise to Customer Cat an invoice price of $3,700 (total); terms 1/10, 1/30. 28 Sold 12 identical items of merchandise to Customer D at an involce price of...
E6-3 Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales LO6-1 The following transactions were selected from among those completed by Cadence Retailers November and December: Nov. 20 Sold 20 items of merchandise to Customer B at an invoice price of $5,800 (total); terms 4/10, n/30. 25 Sold two items of merchandise to Customer C, who charged the $700 sales price on her Visa credit card. Visa charges Cadence Retailers a 3 percent credit card...
The following transactions were selected from among those completed by Bear’s Retail Store: Nov. 20 Sold two items of merchandise to Cheryl Jahn, who paid the $460 (total) sales price in cash. The goods cost Bear’s $350. 25 Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,400 (total); terms 3/10, n/30. The goods cost Bear’s $2,700. 28 Sold 10 identical items of merchandise to Nancy’s Gym at a selling price of $6,400 (total); terms 3/10,...
need help with problems E6-1 and E6-3 help with both
please
Reconciling em a. Outstanding checks b. Bank service charge c. Deposit in transit M6-7 de Chapter Supplement) Recording Sales Discounts A sale is made for $6.00; terms me yje, 0. Al what amount should the sale the gross method of recording les discounts Give the required entry. Also give the assuming that it is during the discount period. Rinwind Assume contrare Determi EXERCISES connect Returns Braze S cosas decrease...
the following transactions were selected from the records of
oceanview company: July
Fichier Edition Présentation Historique Signets Fenêtre Aide ezto.mheducation.com molc. Pro Networ.. OL-10FA-B. Google Docs Homework Should Ath. Fortinet Sec. The 'Stick on mework #4 Revised Instructions I help < Question 19 (of 20) Save & Ext Submit 5.00 points The following transactions were selected from the records of Ocean View Company July 12 Sold merchandise to Customer R. who charged the $4,400 purchase on his Visa credit card....