2) Guitarline Inc. designs and manufactures roller skates. The following data pertain to two of its...
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2) Guitarline Inc. designs and manufactures roller skates. The following data pertain to two of its major customers: House of Music and Sweetwater. House of Music Sweetwater Total sales $2,500,000 $3,250,000 Sales discount 4% 3% Sales terms 2/10, n/30 2/10, n/30 Sales returns 5% 2% Assume sales discounts are taken on total invoice amount and that returns occur within 10 days of the sale. Required: Compare the net proceeds from each customer to Guitarline Inc. 30 days after sale. (rounded to nearest dollar for each step where applicable). 2) Guitarline Inc. designs and manufactures roller skates. The following data pertain to two of its major customers: House of Music and Sweetwater. House of Music Sweetwater Total sales $2,500,000 $3,250,000 Sales discount 4% 3% Sales terms 2/10, n/30 2/10, n/30 Sales returns 5% 2% Assume sales discounts are taken on total invoice amount and that returns occur within 10 days of the sale. Required: Compare the net proceeds from each customer to Guitarline Inc. 30 days after sale. (rounded to nearest dollar for each step where applicable).
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Required Workings Particulars House of Music Sweet eater Total Sales A 2... View the full answer
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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