Chapter $5$ Problem Set

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more. Consider the following transactions during the month of May.

$2$

$1$

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May $2$ Annika books a fishing tour with Outdoor Expo for herself and four friends at the group discount price $($ $$1,440=$ $$2885).$ The tour is scheduled for May $7.$

May $7$ The fishing tour occurs. Outdoor Expo asks that payment be made within $30$ days of the tour and offers a $5\%$ discount for payment within $15$ days.

May $9$ Annika is upset that no one caught a single fish and asks management for a discount. Outdoor Expo has a strict policy of no discounts related to number of fish caught.

May $15$ Upon deeper investigation, management of Outdoor Expo discovers that Annika's tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of $30\%$ of the amount due.

May $20$ Outdoor Expo receives the amount owed by Annika.

Required:

Determine the financial statement effects for each date.

Calculate net revenues for Outdoor Expo by May $20.$

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Calculate net revenues for Outdoor Expo by May $20.$

Note: Do not round intermediate calculations. Round your answers to $2$ decimal places.

$\backslash$table$[[$OUTDOOR EXPO$],[$Partial Income Statement,$],[$Total tour revenues,$],[,]]$