1. On October 10, Tridant Inc. purchased 5,000desks at an invoice price of $300 each and paid for them on October20, earning a 3% cash discount. Tridant sold all of the desks at$600 each. The customer earned a 1% cash discount.
a. What amount should Tridant report as net sales?
b. What amount should Tridant report as cost of goods sold?