Assignment Problem: 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 $600 to S. Green and billed that amount subject to terms 2/10, n/30.
Jan. 6 Sold goods to M. Munoz for $560 and billed that amount subject to terms 2/10, n/30.
Jan. 14 Collected cash due from S. Green.
Feb. 2 Collected cash due from M. Munoz.
Feb. 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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