All categories

3 years ago

Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales

Business

1 answer:

ser-zykov [4K]3 years ago

4 0

Answer:

Net sales $15,670

Explanation:

Computation of thenet sales for the two months ended August 31.

Sales revenue:

Sales Revenue

July 12 Merchandise Sold to Customer R $3,000

July 20 Merchandise Sold to Customer S $4,000

July 15 Merchandise Sold to Customer T $9,000

Total ($3,000+$4,000+$9,000) $16,000

Less:Sales discounts (270)

($9,000 collected from S x 3%)

Credit card fee ($60)

($3,000 from R x 2%)

Net sales $15,670

Therefore the net sales for the two months ended August 31 will be $15,670

You might be interested in

For a risk averse person, a. the pleasure of winning $1,000 on a bet exceeds the pain of losing $1,000 on a bet. b. the pain of

kompoz [17]

Answer:

B. the pain of losing $1,000 on a bet exceeds the pleasure of winning $1,000 on a bet.

Explanation:

A risk averse person is an individual or person rather who prefers lower returns with known risk than higher returns with unknown or higher risks. In this case, the individual prioritizes preservation of capital at hand over the potential of a more than average return. In this scenario, for a risk averse individual, the pain of losing $1,000 on a bet exceeds the pleasure of winning $1,000 on a bet based on the high uncertainty attached to winning the $1000 bet.

8 0

3 years ago

Leon and Sara are arguing over when the best time is to degrease soup. Leon says that it's easiest to degrease soup when it's bo

Sonbull [250]

I think the answer is d

5 0

3 years ago

Read 2 more answers

If a purchase is a new buy for a manufacturer, the seller should be prepared to act as a consultant to the buyer, expect a long

VMariaS [17]

Answer:

d. work with technical personnel.

Explanation:

In the given scenario a manufacturer is making a new buy from a seller. This is a risky investment for the buyer because of uncertainty on how the product will perform and lack of technical know-how in operating the product.

The buyer therefore will require the seller to act as a consultant in case of issues arising from the use of the product, buying decision will take a long time because the buyer will want a good fit for their operations, and more work will be done with technical personnel to train them on how to use the product

8 0

3 years ago

Suppose that the government of Ping's hears of the working conditions and the country seizes the Quality Dragon plant in which P

KATRIN_1 [288]

Answer:

The answer is: A) expropriation

Explanation:

Expropriation is the seizure of private property by a government entity or government agency for the purpose of public interest. Usually owners that lose property due to expropriations, receive some type of compensation for their loss. It also can refer to private property being taken away by another private entity with the authorization of a government entity or agency. A common example of expropriation is land being taken away for building roads or dams.

In this case the Quality Dragon plant was expropriated by a private entity who was authorized by the government and the owner was received a monetary compensation for his loss.

5 0

3 years ago

Classify each of the following items as a final good or an intermediate good, and classify the expenditure on each final good a

klasskru [66]

Answer:

Classification of Goods

a. Intermediate good; Investment

b. Final Good = Consumption

c. Intermediate good; Investment

d. Intermediate good = Investment

Explanation:

An intermediate good produces a final good for consumption. Intermediate goods are used for investment to generate more resources that can be consumed in the future. A final good, in most cases, does not require further processing. It is consumed immediately by the buyer.

5 0

3 years ago