Question
In: Accounting
The following transactions were selected from among those completed by Bear’s Retail Store: Nov. 20 Sold...
The following transactions were selected from among those completed by Bear’s Retail Store:
| Nov. | 20 | Sold two items of merchandise to Cheryl Jahn, who paid the $410 (total) sales price in cash. The goods cost Bear’s $310. | ||
| 25 | Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,100 (total); terms 3/10, n/30. The goods cost Bear’s $2,550. | |||
| 28 | Sold 10 identical items of merchandise to Nancy’s Gym at a selling price of $6,100 (total); terms 3/10, n/30. The goods cost Bear’s $4,050. | |||
| 29 | Nancy’s Gym returned one of the items purchased on the 28th. The item was in perfect condition and credit was given to the customer. | |||
| Dec. | 6 | Nancy’s Gym paid the account balance in full. | ||
| 30 | Vasko Athletics paid in full for the invoice of November 25. |
Required:
Compute the net sales revenue to be reported over the two months. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Solutions
ekkarill92 answered 2 years agoRelated Solutions
The following transactions were selected from among those completed by Hailey Retailers in 2013
The following transactions were selected from among those completed by Hailey Retailers in 2013: Nov. 20 Sold two items of merchandise to Customer B, who charged the $480 sales price on her Visa credit card. Visa charges Hailey a 2 percent credit card fee. 25 Sold 14 items of merchandise to Customer C at an invoice price of $3,400 (total); terms 3/10, n/30. 28 Sold 12 identical items of merchandise to Customer D at an invoice price of $8,160 (total); terms 3/10,...
Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the...
Sales and Notes Receivable Transactions
The following were selected from among the transactions
completed during the current year by Danix Co., an appliance
wholesale company:
Jan. 21.
Sold merchandise on account to Black Tie Co., $39,900. The cost
of merchandise sold was $23,940.
Mar. 18.
Accepted a 60-day, 8% note for $39,900 from Black Tie Co. on
account.
May 17.
Received from Black Tie Co. the amount due on the note of March
18.
June 15.
Sold merchandise on account...
Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the...
Sales and Notes Receivable Transactions
The following were selected from among the transactions
completed during the current year by Danix Co., an appliance
wholesale company:
Jan. 21.
Sold merchandise on account to Black Tie Co., $41,700. The cost
of merchandise sold was $25,020.
Mar. 18.
Accepted a 60-day, 9% note for $41,700 from Black Tie Co. on
account.
May 17.
Received from Black Tie Co. the amount due on the note of March
18.
June 15.
Sold merchandise on account...
Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the...
Sales and Notes Receivable Transactions
The following were selected from among the transactions
completed during the current year by Danix Co., an appliance
wholesale company:
Jan. 21.
Sold merchandise on account to Black Tie Co., $41,700. The cost
of merchandise sold was $25,020.
Mar. 18.
Accepted a 60-day, 9% note for $41,700 from Black Tie Co. on
account.
May 17.
Received from Black Tie Co. the amount due on the note of March
18.
June 15.
Sold merchandise on account...
Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the...
Sales and Notes Receivable Transactions
The following were selected from among the transactions
completed during the current year by Danix Co., an appliance
wholesale company:
Jan. 21.
Sold merchandise on account to Black Tie Co., $39,900. The cost
of merchandise sold was $23,940.
Mar. 18.
Accepted a 60-day, 8% note for $39,900 from Black Tie Co. on
account.
May 17.
Received from Black Tie Co. the amount due on the note of March
18.
June 15.
Sold merchandise on account...
Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the...
Sales and Notes Receivable Transactions
The following were selected from among the transactions
completed during the current year by Danix Co., an appliance
wholesale company:
Jan. 21. Sold merchandise on account to Black Tie Co.,
$28,000. The cost of merchandise sold was $16,800.
Mar. 18. Accepted a 60-day, 6% note for $28,000 from Black Tie
Co. on account.
May 17. Received from Black Tie Co. the amount due on the note
of March 18.
June 15. Sold merchandise on account...
Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the...
Sales and Notes Receivable Transactions
The following were selected from among the transactions
completed during the current year by Danix Co., an appliance
wholesale company:
Jan. 21. Sold merchandise on account to Black Tie Co.,
$31,800. The cost of merchandise sold was $19,080.
Mar. 18. Accepted a 60-day, 6% note for $31,800 from Black Tie
Co. on account.
May 17. Received from Black Tie Co. the amount due on the note
of March 18.
June 15. Sold merchandise on account...
Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the...
Sales and Notes Receivable Transactions
The following were selected from among the transactions
completed during the current year by Danix Co., an appliance
wholesale company:
Jan. 21. Sold merchandise on account to Black Tie Co., $28,000.
The cost of goods sold was $16,800.
Mar. 18. Accepted a 60-day, 6% note for $28,000 from Black Tie Co.
on account.
May 17. Received from Black Tie Co. the amount due on the note of
March 18.
June 15. Sold merchandise on account,...
Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the...
Sales and Notes Receivable Transactions The following were
selected from among the transactions completed during the current
year by Danix Co., an appliance wholesale company: Jan. 13. Sold
merchandise on account to Black Tie Co., $40,200. The cost of goods
sold was $24,120. Mar. 10. Accepted a 60-day, 8% note for $40,200
from Black Tie Co. on account. May 9. Received from Black Tie Co.
the amount due on the note of March 10. June 10. Sold merchandise
on account,...
Sales and Notes Receivable Transactions The following were selected from among the transactions completed during the...
Sales and Notes Receivable Transactions
The following were selected from among the transactions
completed during the current year by Danix Co., an appliance
wholesale company:
Jan. 21. Sold merchandise on account to Black Tie Co., $28,000.
The cost of goods sold was $16,800.
Mar. 18. Accepted a 60-day, 6% note for $28,000 from Black Tie Co.
on account.
May 17. Received from Black Tie Co. the amount due on the note of
March 18.
June 15. Sold merchandise on account,...
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