STARLIGHT CINEMA RECORDS WEEKLY CONCESSION SALES. WEEK 1 SHOWS: POPCORN $2,840, BEVERAGES $1,965, CANDY $1,195. PRESENT THE TOTAL REVENUE. CONCESSION ACCOUNTING - 6 POINTS] [GENERAL
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![STARLIGHT CINEMA RECORDS WEEKLY
CONCESSION SALES. WEEK 1 SHOWS:
POPCORN $2,840, BEVERAGES $1,965,
CANDY $1,195. PRESENT THE TOTAL
REVENUE.
CONCESSION
ACCOUNTING - 6 POINTS]
[GENERAL](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F81472aa8-82e5-4272-8009-bc0489fdae1a%2Fb5ba1ad5-98e8-4169-9774-9a6600b06fe1%2Fr8miqc_processed.jpeg&w=3840&q=75)
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- A credit sale of $4,000 is made on April 25, terms 2/10, n/30, on which a return of $250 is granted on April 28. What amount is received as payment in full on May 4? $3,675 O $3.750 O $3,920 O $4,000Gp for the periodA credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a retur of $200 is granted on July 18. What amount is receved as payment in full on uly 247
- ??1. During December, A Company started doing business and had gross credit trade sales of $800,000, terms 2/10 Net 30. The cost of goods sold of $480,000, selling general administration costs of $100,000, Interest Expense of $10,000; and an income tax rate of 30%. a. Prepare an income statement b. Prepare journal entries Assuming gross method and all payments for the trade sales were made within 10 days.Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and June of $56,000 and $64,000, respectively. Analysis of Spencer's operations indicates that the pattern of customers' payments on account is as follows (percentages are of total monthly credit sales): Receiving Discount Beyond Discount Period Totals In month of sale In month of following sale 50% 20% 70% 15% 10% 25% Uncollectible accounts, returns, and allowances 5% 100% Determine the estimated cash collected on customers' accounts in June.
- Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and June of $245,000 and $280,000, respectively. Analysis of Spencer's operations indicates that the pattern of customers' payments on account is as follows (percentages are of total monthly credit sales): Receiving Discount Beyond Discount Period Totals In month of sale 50% 20% 70% In month of following sale 15% 10% 25% Uncollectible accounts, returns, and allowances 5% 100% Determine the estimated cash collected on customers' accounts in June. $AnswerA credit sale of $750 is made on June 13, terms 2/10, net/30. A return of $50 is granted on June 16. The amount received as payment in full on June 23 is: a) $700 b) $686 c) $685 d) $650Customer returns and allowances for department #620 came to $5,500. Gross sales in the department were $95,000. What percentage of merchandise sold was returned? Write answer to two decimal places with the % symbol, example 6.23%
- The following data was generated as of December 31Accounts receivable, Jan 1 550,000.00Accounts receivable collected 875,000.00Cash Sales 350,000.00Inventory, January 1 450,000.00Inventory, December 31 275,000.00Purchases 950,000.00Gross Margin on Sales 375,000.00 a.) How much is the total sales?b.) How much is the cost of sales?c.) How much is the ending Receivable as of Dec 31?d.) How is the credit sales?A company had net sales of $21,000 and accounts receivable of $2,520 for the current period. Its days' sales uncollected equals: (Use 365 days a year.) Multiple Choice 4 43.8 days. 7.4 days. 58.9 days. 8.0 days. 45.2 days.What is the average collection period for the year for company ERT ( show your work) Sales-$2,600(30% cash, 70% credit); Inventory-$700;Depreciation -$1,200; Plant & Equipment $3,000; Accounts Receivable - $245; Notes Payable- $155