Answer:
Gross profit= $54,700
Explanation:
Giving the following information:
Purchases $37,000
Merchandise inventory, September 1 6,100
Merchandise inventory, September 30 6,800
Sales 91,000
<u>First, we need to calculate the cost of goods sold:</u>
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 6,100 + 37,000 - 6,800
COGS= $36,300
<u>Now, the gross profit:</u>
Gross profit= sales - COGS
Gross profit= 91,000 - 36,300
Gross profit= $54,700
Answer:
we need to know what the options are
Explanation:
Answer:
Debit Bad Debt Expense; Credit Accounts Receivable
Explanation:
Bad debts expense is related to a company's current asset accounts receivable. Bad debts expense is also referred to as uncollectible accounts expense or doubtful accounts expense.
When a cash payment is received from the debtor, cash is increased and the accounts receivable is decreased. When recording the transaction, cash is debited, and accounts receivable are credited.
The correct answer for the question that is being presented above is this one: "Salary." An active worker receives $500 every two weeks. This kind of monetary reward for work is called salary. Salary is the amount of money that you get after a certain kind of labor is done.
Answer:
total revenue test: elastic. If demand is elastic, a decrease in price will increase total revenue, and an increase in price will reduce total revenue. total revenue: inelastic.
Explanation:
