a. A company sells merchandise for $5,600, terms FOB destination, 2/10, n/30. Freight is prepaid and...

Transcribed Image Text:

a. A company sells merchandise for $5,600, terms FOB destination, 2/10, n/30. Freight is prepaid and cost $150. What is the amount of sales that should be recorded? b. A merchandiser sells merchandise to a customer for $6,500. All sales are subject to General Sales Tax (GST) of 12.5%. What is the amount of GST Payable that should be recorded for this sale? (3 points each) C. A company recorded sales of $1,200,000; cost of merchandise sold (COMS) of $52,000, and Operating Expenses of $33,000. What is the company's a) gross profit and b) operating income. (5 points) a. A company sells merchandise for $5,600, terms FOB destination, 2/10, n/30. Freight is prepaid and cost $150. What is the amount of sales that should be recorded? b. A merchandiser sells merchandise to a customer for $6,500. All sales are subject to General Sales Tax (GST) of 12.5%. What is the amount of GST Payable that should be recorded for this sale? (3 points each) C. A company recorded sales of $1,200,000; cost of merchandise sold (COMS) of $52,000, and Operating Expenses of $33,000. What is the company's a) gross profit and b) operating income. (5 points)

Answer rating: 100% (QA)

A Amount of sales that should be recorded ... View the full answer