Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales The following transactions were selected from the records of Ocean View Company:

July 12 Sold merchandise to Customer R, who charge d the $3,000 purchase on his

Visa creditCard. Visa charges OceanView a 2 percent credit card fee.

15. Sold merchandise to Customer S at an invoice price of $9,000; terms 3/10, n/30.

20. Sold merchandise to Customer T at an invoice price of $4,000; terms 3/10, n/30.

23 Collected payment from Customer S from July 15sale.

Aug. 25 Collected payment from Customer T from July 20 sale.

Required:

Assuming that Sales Discounts und Credit Card Discount s arc treated as contra-

revenues. compute net sales for the two months ended August 31.