ge WileyPLUs W WileyPLUS WileyPLUS ? https://edu uni Kimmel, Accounting, 6e Assi
ID: 2559169 • Letter: G
Question
ge WileyPLUs W WileyPLUS WileyPLUS ? https://edu uni Kimmel, Accounting, 6e Assignment Gradebook ORION Downloadable eTextbook Question 1 The following are sales of The Holiday Store during February. The Store sells seasonal holiday items. 2/3 Sold 50 heart balloons for $5 cash each. 2/8 Sold 100 boxes of chocolates at $10 each, terms 2/10, n/30. Collected within the discount period. 2/10 Sold 50 heart necklaces for $25 each with no discount. Have not collected as of month end. 2/14 Sold 100 bouquets of roses at $30 per bouquet. Half the sales were on account. By month end, 75% of the credit sales were colected. 2/27 Sold 20 leftover heart necklaces to a discount store for $15 each on credit 2/28 Sold a display cabinet at a swap meet for $100 on account Determine the balance in Accounts Receivable at 2/28. Total Accounts Receivable Ques ll Rights Reserved. A Divsion of John Wiley & Sons Inc archExplanation / Answer
Computation of Account Receivable Date Particualr Amount 03-Feb Sold 50 Heart Ballon @ $5 $250.00 08-Feb Sold 100 boxes of Choclate @$10 $1,000.00 10-Feb Sold 50 Heart Necklace @ $25 $1,250.00 14-Feb Sold 100 Bouquet @ $30*50% $1,500.00 27-Feb Sold 20 leftover heart Necklace @$15 $300.00 28-Feb Sold Display Cabinet Swap $100.00 14-Feb Recived 75% amount for 14-02 Sale -$1,125.00 08-Feb Received amount for 02/08 after discount ($1000-$200) -$800.00 08-Feb Discount expense on 02/08 Sales -$200.00 28-Feb Account receivable bal as on 28/02 $2,275.00
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.