Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please fill this out e6-3 (algo) reporting net

please fill this out E6-3 (Algo) Reporting Net Sales with Credit...

50.1K

Verified Solution

Question

Accounting

please fill this out
image
E6-3 (Algo) Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales LO6-1 Bennett Retailers had the following transactions in November and December: Novenber 20 Sold 20 items of merchandise to Custoner B at an invoice price of $6,200(total); terms 3/10, n/30. November 25 Sold two itens of merchandise to Customer C, who charged the $700 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 2 percent credit card fee. Novenber 28 Sold 10 identical items of merchandise to Customer D at an invoice price of $9,480 (total); terms 3/10,n/30. November 29 Custoner D returned one of the items purchased on the 28 th; the iten was defective and credit was December 6 Customer D paid the account balance in full. December 20 Customer B paid the Novenber 20 invoice in fult. 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

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students