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On June 8, ABC Company sold $4,000 of merchandise to XYZ Company, terms 2/20, n/30. The cost of the merchandise sold was $1,000. On June 14, XYZ Company returned $2,000 of the merchandise purchased on June 8. The cost of the merchandise returned was $800. On June 16, ABC Company received the balance due from XYZ Company. ABC Company uses a perpetual inventory system. If these were the only sales transactions in June, what amount would ABC Company report as net sales on the income statement for the month ended June 30?
Sagot :
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