#12 The following table summarizes the sales for the month of July for Perfect P
ID: 2394242 • Letter: #
Question
#12
The following table summarizes the sales for the month of July for Perfect Platters Wholesalers Inc. The table includes the terms, sales returns and when payment was collected for each sale.
Date
Sale Amount
Terms
Returns
Date Collected
April 3
$ 900
2/10, n/30
$ 50
April 9
April 5
1,300
3/10, n/30
200
April 21
April 11
450
1/10, n/30
0
April 13
April 18
2,300
4/10, n/60
520
April 25
April 22
1,600
2/10, n/30
750
May 5
Instructions
Calculate the cash received from each sale. Show your calculations.
Date
Sale Amount
Terms
Returns
Date Collected
April 3
$ 900
2/10, n/30
$ 50
April 9
April 5
1,300
3/10, n/30
200
April 21
April 11
450
1/10, n/30
0
April 13
April 18
2,300
4/10, n/60
520
April 25
April 22
1,600
2/10, n/30
750
May 5
Explanation / Answer
Answer
date net sale discount total cash collection 3-apr 850 17 833 5-apr 1100 1100 11-apr 450 4.50 445.50 18-apr 1780 71.20 1708.80 22-apr 850 850 total 4937.30Related Questions
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