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The following transactions were selected from the records of Evergreen Company. July 12 Sold merchandise to Wally Butler, who paid the $1,020 purchase with cash. The goods cost Evergreen Company $610. July 16 Sold merchandise to Claudio's Chair Company at a selling price of $5,020 on terms 3/10, n/30. The goods cost Evergreen Company $3,510. July 19 Sold merchandise to Otto's Ottomans at a selling price of $3,010 on terma 3/10, n/30. The goods cost Evergreen Company $1,910. July 23 Received cash from Claudio's Chair Company for the amount due from July 16. July 31 Received cash from Otto's Ottomans for the amount due from July 19. Required: Compute the amount of Net Sales to be reported for the month ended July 31. (Round your answer to 2 decimal places.) Net Sales

The following transactions were selected from the records of Evergreen Company. July 12 Sold merchandise to Wally Butler, who paid the $1,020 purchase with cash. The goods cost Evergreen Company $610. July 16 Sold merchandise to Claudio's Chair Company at a selling price of $5,020 on terms 3/10, n/30. The goods cost Evergreen Company $3,510. July 19 Sold merchandise to Otto's Ottomans at a selling price of $3,010 on terma 3/10, n/30. The goods cost Evergreen Company $1,910. July 23 Received cash from Claudio's Chair Company for the amount due from July 16. July 31 Received cash from Otto's Ottomans for the amount due from July 19. Required: Compute the amount of Net Sales to be reported for the month ended July 31. (Round your answer to 2 decimal places.) Net Sales

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following transactions were selected from the records of Evergreen Company. July 12 Sold merchandise to Wally Butler, who paid the $1,020 purchase with cash. The goods cost Evergreen Company $610. July 16 Sold merchandise to Claudio's Chair Company at a selling price of $5,020 on terms 3/10, n/30. The goods cost Evergreen Company $3,510. July 19 Sold merchandise to Otto's Ottomans at a selling price of $3,010 on terms 3/10, n/30. The goods cost Evergreen Company $1,910. July 23 Received cash from Claudio's Chair Company for the amount due from July 16. July 31 Received cash from Otto's Ottomans for the amount due from July 19. Required: Compute the amount of Net Sales to be reported for the month ended July 31. (Round your answer to 2 decimal places.) Net Sales
Transcribed Image Text:The following transactions were selected from the records of Evergreen Company. July 12 Sold merchandise to Wally Butler, who paid the $1,020 purchase with cash. The goods cost Evergreen Company $610. July 16 Sold merchandise to Claudio's Chair Company at a selling price of $5,020 on terms 3/10, n/30. The goods cost Evergreen Company $3,510. July 19 Sold merchandise to Otto's Ottomans at a selling price of $3,010 on terms 3/10, n/30. The goods cost Evergreen Company $1,910. July 23 Received cash from Claudio's Chair Company for the amount due from July 16. July 31 Received cash from Otto's Ottomans for the amount due from July 19. Required: Compute the amount of Net Sales to be reported for the month ended July 31. (Round your answer to 2 decimal places.) Net Sales
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