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Bennett Retailers had the following transactions in November and December: November 20 November 25 November 28 November 29 December 6 December 20 Sold 20 items of merchandise to Customer B at an invoice price of $5,600 (total); terms 4/10, n/30. Sold two items of merchandise to Customer C, who charged the $700 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 1 percent credit card fee. Sold 10 identical items of merchandise to Customer D at an invoice price of $9,900 (total); terms 4/10, n/30. Customer D returned one of the itens purchased on the 28th; the item was defective and credit was given to the customer. Customer D paid the account balance in full. Customer B paid the November 20 invoice in full. Required: Compute net sales for the two months ended December 31. Note: Do not round your intermediate calculations. Round your answer to the nearest whole dollar amount. Net sales $ 15.203

Bennett Retailers had the following transactions in November and December: November 20 November 25 November 28 November 29 December 6 December 20 Sold 20 items of merchandise to Customer B at an invoice price of $5,600 (total); terms 4/10, n/30. Sold two items of merchandise to Customer C, who charged the $700 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 1 percent credit card fee. Sold 10 identical items of merchandise to Customer D at an invoice price of $9,900 (total); terms 4/10, n/30. Customer D returned one of the itens purchased on the 28th; the item was defective and credit was given to the customer. Customer D paid the account balance in full. Customer B paid the November 20 invoice in full. Required: Compute net sales for the two months ended December 31. Note: Do not round your intermediate calculations. Round your answer to the nearest whole dollar amount. Net sales $ 15.203

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bennett Retailers had the following transactions in November and December: November 20 November 25 November 28 November 29 December 6 December 20 Sold 20 items of merchandise to Customer B at an invoice price of $5,600 (total); terms 4/10, n/30. Sold two items of merchandise to Customer C, who charged the $700 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 1 percent credit card fee. Sold 10 identical items of merchandise to Customer D at an invoice price of $9,900 (total); terms 4/10, n/30. Customer D returned one of the itens purchased on the 28th; the item was defective and credit was given to the customer. Customer D paid the account balance in full. Customer B paid the November 20 invoice in full. Required: Compute net sales for the two months ended December 31. Note: Do not round your intermediate calculations. Round your answer to the nearest whole dollar amount. Net sales $ 15.203
Transcribed Image Text:Bennett Retailers had the following transactions in November and December: November 20 November 25 November 28 November 29 December 6 December 20 Sold 20 items of merchandise to Customer B at an invoice price of $5,600 (total); terms 4/10, n/30. Sold two items of merchandise to Customer C, who charged the $700 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 1 percent credit card fee. Sold 10 identical items of merchandise to Customer D at an invoice price of $9,900 (total); terms 4/10, n/30. Customer D returned one of the itens purchased on the 28th; the item was defective and credit was given to the customer. Customer D paid the account balance in full. Customer B paid the November 20 invoice in full. Required: Compute net sales for the two months ended December 31. Note: Do not round your intermediate calculations. Round your answer to the nearest whole dollar amount. Net sales $ 15.203
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