The following transactions were selected from the records of Evergreen Company:July 12 Sold merchandise to Wally Butler, who paid the $1,000 purchase with cash. Thegoods cost Evergreen Company $600.15 Sold merchandise to Claudio’s Chair Company at a selling price of $5,000 onterms 3/10, n/30. The goods cost Evergreen Company $3,500.20 Sold merchandise to Otto’s Ottomans at a selling price of $3,000 on terms 3/10,n/30. The goods cost Evergreen Company $1,900.23 Collected payment from Claudio’s Chair Company from the July 15 sale.Aug. 25 Collected payment from Otto’s Ottomans from the July 20 sale.Required:Assuming that Sales Discounts are reported as contra-revenue, compute Net Sales for the twomonths ended August 31.
The following transactions were selected from the records of Evergreen Company:
July 12 Sold merchandise to Wally Butler, who paid the $1,000 purchase with cash. The
goods cost Evergreen Company $600.
15 Sold merchandise to Claudio’s Chair Company at a selling price of $5,000 on
terms 3/10, n/30. The goods cost Evergreen Company $3,500.
20 Sold merchandise to Otto’s Ottomans at a selling price of $3,000 on terms 3/10,
n/30. The goods cost Evergreen Company $1,900.
23 Collected payment from Claudio’s Chair Company from the July 15 sale.
Aug. 25 Collected payment from Otto’s Ottomans from the July 20 sale.
Required:
Assuming that Sales Discounts are reported as contra-revenue, compute Net Sales for the two
months ended August 31.
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