(POS Terminal / Cash Drawer) A medium-sized, merchandising store sells a variety of goods to its customers like junk foods, biscuits, canned drinks, among others. Sales are electronic and recorded via POS Terminals situated across the store. The store has a total of three (3) terminals. Data extracted from the system revealed the following: POS Terminal #1: Junk Foods Biscuits Canned Drinks Others October 4th Week Sales Total No. of Items Sold 23 16 8 32 Gross Sales P 565 P 352 P 204 P 1,211 Sales Discounts P 8 - - P 70 Voided Sales P 24 P 5 - P 16 POS Terminal #2: Junk Foods Biscuits Canned Drinks Others October 4th Week Sales Total No. of Items Sold 17 21 12 28 Gross Sales P 428 P 404 P 262 P 1,035 Sales Discounts - P 5 - P 28 Voided Sales P 9 - P 14 P 106 POS Terminal #3: Junk Foods Biscuits Canned Drinks Others October 4th Week Sales Total No. of Items Sold 29 19 10 26 Gross Sales P 738 P 398 P 239 P 850 Sales Discounts P 11 P 4 P 3 P 15 Voided Sales P 35 P 12 - P 38 Voided sales are cancelled sales transactions that happen when an item is already punched in the system but eventually cancelled by the customer. Voided sales are not included in the Gross Sales data. Further data breakdown showed that the total net sales amounts from all terminals are comprised of cash and credit card sales. Total credit card sales in terminal #1 amounted to P738, P539 in terminal #2 and P350 in terminal #3. What is the total amount of cash sales collected in the 4th Week of October?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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(POS Terminal / Cash Drawer) A medium-sized, merchandising store sells a variety of goods to its customers like junk foods, biscuits, canned drinks, among others. Sales are electronic and recorded via POS Terminals situated across the store. The store has a total of three (3) terminals.

Data extracted from the system revealed the following:

POS Terminal #1:

	Junk Foods	Biscuits	Canned Drinks	Others
October 4^th Week Sales Total
No. of Items Sold	23	16	8	32
Gross Sales	P 565	P 352	P 204	P 1,211
Sales Discounts	P 8	-	-	P 70
Voided Sales	P 24	P 5	-	P 16

POS Terminal #2:

	Junk Foods	Biscuits	Canned Drinks	Others
October 4^th Week Sales Total
No. of Items Sold	17	21	12	28
Gross Sales	P 428	P 404	P 262	P 1,035
Sales Discounts	-	P 5	-	P 28
Voided Sales	P 9	-	P 14	P 106

POS Terminal #3:

	Junk Foods	Biscuits	Canned Drinks	Others
October 4^th Week Sales Total
No. of Items Sold	29	19	10	26
Gross Sales	P 738	P 398	P 239	P 850
Sales Discounts	P 11	P 4	P 3	P 15
Voided Sales	P 35	P 12	-	P 38

Voided sales are cancelled sales transactions that happen when an item is already punched in the system but eventually cancelled by the customer. Voided sales are not included in the Gross Sales data.

Further data breakdown showed that the total net sales amounts from all terminals are comprised of cash and credit card sales. Total credit card sales in terminal #1 amounted to P738, P539 in terminal #2 and P350 in terminal #3.

What is the total amount of cash sales collected in the 4^th Week of October?

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