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Calculation of net sales
Reporting Net Sales with Credit Sales, Sales Discounts, Sales Returns, and Credit Card Sales
Nov. 20
Sold two items of merchandise to Customer B who charged the $350 sales price on her Visa credit card. Visa charges Clem Wholesalers at a 2% credit card fee.
Nov. 25
Sold 20 items of merchandise to Customer C at an invoice price of $4500 total; terms 3/10, n/30.
Nov. 28
Sold 10 identical items of merchandise to Customer D at an invoice price of $9000, total; terms 3/10, n/30
Nov. 29
Customer D returned one of the items purchased on the 28th; the item was defective, and credit was given to the customer.
Dec. 6
Customer D paid the account balance in full
Dec. 30
Customer C paid in full for the invoice of November 25, 2011
Assume that Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts are treated as contra revenues: compute net sales for the two months ended December 31, 2011.
A total of 35 percent of this inventory was not sold to outsiders until 2013. In 2012, Bellgrade reported cost of goods of $380,000 while Hansen reported $210,000 What is consolidated cost of goods sold in 2010?
In 2004, DBC will be submitting a bid for a job that is expected to require $810,000 in direct materials cost, $225,000 in direct labor costs, and 80,000 machine hours. How much overhead should DBC estimated for this job?
questionthe demand for the tables is 800 units for the oak table and 1500 for the walnut table. high point doesnt
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Sale on the financial statements What should Milley do?
What is the net investment in the truck project?
Give the journal entry to record issuance of the bond and give the journal entry to record the conversion of the bonds assuming
Journalize the activities from job cost sheets in the general journal. Also journalize the other costs that occurred during this period of time.
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