Chapter 6, Problem 11E

Reporting Net Sales after Sales Discounts

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.
16	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	Received cash from Claudio’s Chair Company for the amount due from July 15.
31	Received cash from Otto’s Ottomans for the amount due from July 16.

Required:

Compute the amount of revenue to be reported for the month ended July 31.