Business, 16.03.2020 16:33 ayoismeisalex

During the months of January and February, Hancock Corporation sold goods to three customers. The sequence of events was as follows:

Jan. 6 Sold goods for $1,400 to S. Green and billed that amount subject to terms 2/10, n/30.
6 Sold goods to M. Munoz for $500 and billed that amount subject to terms 2/10, n/30.
14 Collected cash due from S. Green.
Feb. 2 Collected cash due from M. Munoz.
28 Sold goods for $490 to R. Reynolds and billed that amount subject to terms 2/10, n/45.

Required:
Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months ended February 28.

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During the months of January and February, Hancock Corporation sold goods to three customers. The se...

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