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Author Question: If merchandise sells for 3,500, with terms of 3/15, n/45 and the cost of the inventory sold is ... (Read 87 times)

bcretired

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on: Jul 5, 2018
If merchandise sells for 3,500, with terms of 3/15, n/45 and the cost of the inventory sold is 2,100, the amount charged to sales is
 a. 3,395
  b. 3,500
  c. 2,037
  d. 2,100

Question 2

South Seas reported the following items on its financial statements. Determine the amount of the missing operating expenses.
 
  Net income  50,000
   Sales 250,000
   Cost of goods sold 80,000


jomama

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

250,000 - 50,000 - 80,000 = 120,000


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