During the months of January, Pearson Corporation sold goods to customers. Assume Pearson uses a perpetual inventory system.. The sequence of events was as follows: Date Transaction Jan.6 Sold goods for $1,040 to Kate Inc. with terms 2/15, n/30. The goods cost Pearson $453. Jan 10 Sold goods to Randall Corp for $1,900 with terms 1/15, n/30. The goods cost Pearson $825. Jan 19 Collected cash due from Randall Inc. What is the net sales from these transactions?

During the months of January, Pearson Corporation sold goods to customers. Assume Pearson uses a perpetual inventory system.. The sequence of events was as follows: Date Transaction Jan.6 Sold goods for $1,040 to Kate Inc. with terms 2/15, n/30. The goods cost Pearson $453. Jan 10 Sold goods to Randall Corp for $1,900 with terms 1/15, n/30. The goods cost Pearson $825. Jan 19 Collected cash due from Randall Inc. What is the net sales from these transactions?

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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Date	Transaction
Jan.6	Sold goods for $1,040 to Kate Inc. with terms 2/15, n/30. The goods cost Pearson $453.
Jan 10	Sold goods to Randall Corp for $1,900 with terms 1/15, n/30. The goods cost Pearson $825.
Jan 19	Collected cash due from Randall Inc.