Question

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 of $9,500 (total) terms 3/10, n/30. 29 Customer returned one of the itens purchased on the 28th; the item was defective and credit was given to the customer. Dec. 6 Customer paid the account balance in full. 20 Customer 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. Round your answer to the nearest whole dollar amount.) Not sales

Answer 1

Gross Sales revenue	16300	=6100+700+9500
Less:
Sales Returns and Allowances	-950	=9500*1/10
Less: Sales Discount	-256.5	=(9500-950)*3%
Less: Credit card Discounts	-14	=700*2%
Net sales	15080