Q1) Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales
||Sold two items of merchandise to Customer B who charged the $350 sales price on her Visa credit card. Visa charges Clem Wholesalers at a 2% credit card fee.
||Sold 20 items of merchandise to Customer C at an invoice price of $4500 total; terms 3/10, n/30.
||Sold 10 identical items of merchandise to Customer D at an invoice price of $9000, total; terms 3/10, n/30
||Customer D returned one of the items purchased on the 28th; the item was defective, and credit was given to the customer.
||Customer D paid the account balance in full
||Customer C paid in full for the invoice of November 25, 2011
Suppose that Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts are treated as contra revenues: find out net sales for two months ended December 31, 2011.