Answer:
Collection from Customers =$487,000
Explanation:
Collection from Customers=account receivable beginning balance+sales revenue-account receivable ending balance
=97000+$519,000-$65,000
=$487,000
Answer:
See below
Explanation:
With regards to the above information, the contribution margin is computed as seen below.
Contribution margin per composite unit = Selling price per composite unit - Variable cost per composite unit
= $150 - $50
= $100
Hence, the contribution margin per composite unit is $100
<span>Under the perpetual inventory system, the accounts that will be debited to record the sale is that the cost of goods sold is $700 and the cash is $2,400. In using a perpetual inventory system, the important entries that are to be prepared when two units of merchandise are sold on account are debit accounts receivable and credit sales revenue and debit cost of goods sold and credit inventory.</span>
