The following transactions were selected from the records of OceanView Company July 12 Sold merchandise...
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The following transactions were selected from the records of OceanView Company July 12 Sold merchandise to Customer R, who charged the $3,300 purchase on his Visa credit card. Visa charges Oceanview a 3 percent credit card fee. 15 Sold merchandise to Customer S at an invoice price of $9,980; terns 3/10, 1/30. 20 Sold merchandise to Customer T at an invoice price of $5,620; terms 3/10, 13. 23 Collected payment from Customer S from July 15 sale. Aug. 25 Collected payment from Customer T from July 20 sale. Required: Assuming that Sales Discounts and Credit Card Discounts are treated as contra-revenues, compute net sales for the two months ended August 31. Net sales
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