Bear's Retail Store in 2010
SuperClassThe following transactions were selected from among those completed by Bear's Retail Store in 2010:
| Nov. 20 | Sold two items of merchandise to Cheryl Jahn, who paid the $400 sales price in cash. The goods cost Bear's $300. |
| 25 | Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,000 (total); terms 3/10, n/30. The goods cost Bear's $2,500. |
| 28 | Sold 10 identical items of merchandise to Nancy's Gym at a selling price of $6,000 (total); terms 3/10, n/30. The goods cost Bear's $4,000. |
| 29 | Nancy's Gym returned one of the items purchased on the 28th. The item was in perfect condition, and credit was given to the customer. |
| Dec. 6 | Nancy's Gym paid the account balance in full. |
| 30 | Vasko Athletics paid in full for the invoice of November 25, 2010. |
| Required: |
Assuming that Sales Returns and Sales Discounts are reported as contra-revenues, compute Net Sales for the two months ended December 31, 2010. (Omit the "$" sign in your response.) |
10 years ago
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bears_retail_store_in_2010.xlsx
