List".$)$ Questions: Use the information on the Data worksheet and pivot tables, formulas, and$/$or functions to answer the following questions. Q$1.$ What is the amount of gross profit on the sale date in June, July, and August for customers Fresno, Lisbon, and Trondheim combined? $\backslash (\backslash$$ $\backslash )$ Q$2.$ What is the average number of days between invoice date and payment date for customers Bristol and Lisbon when billed under the net method? $($Round your answer to one decimal place, such as $15\mathrm{.}4.)$ Q$3.$ What is the amount of sales discount forfeited by customers who were invoiced in April, whose discount is $\backslash (1\backslash \%\backslash ),$ and who did not pay within the $10-$day discount period? $\backslash (\backslash$$ $\backslash )$ Q$4.$ How many bills under the gross method were paid off $13$ to $15$ days after the invoice date? Q$5.$ Which of the following statements about the journal entry for a sale on account with terms that offer a discount is NOT accurate? $()$ Under the net method of recording sales discounts, Sales Discounts is debited for the discount amount if$/$when Complete three columns on the Data worksheet: Days to payment, Gross profit $-$ sale date, and Cash received $-$ payment date.

R$1.$ Cell J$2$: Enter a formula that results in the number of days between the invoice date and the payment date using the data in row $2.$

R$2.$ Cell K$2$: Enter an IF function that results in gross profit on the invoice date using the data in row $2.\backslash$$

R$3.$ Cell L$2$: Enter an IF function that results in the amount of cash the customer pays using the data in row $2.$

Assume the customer takes the discount if they pay in $10$ or fewer days after the invoice date.

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R$4.$ Copy down the entries in cells J$2,$ K$2,$ and L$2$ to all other rows with data.

Steps to create a pivot table:

S$1.$ Select a cell in the data on the Data worksheet.

S$2.$ Select Insert $/$ PivotTable. The data range will automatically be inserted. A "Create PivotTable" window should appear.

S$3.$ In the window, under "Choose where you want the PivotTable report to be placed", select "New Worksheet". A new worksheet should appear with the PivotTable.

S$4.$ A PivotTable Field List should pop up$.$ Drag fields into rows, columns, filters, and values areas as Completing this activity will help you learn to:

$-$ Determine amount of cash received on the payment date from sales on account under the gross and net methods.

$-$ Extract information from a data set using Excel formulas, functions, and$/$or pivot tables.

Scenario:

Company A has two divisions that sell products to customers on account.

Both divisions offer a sales discount to customers who pay within $10$ days. After $10$ days, customers pay the full invoice amount.

The first division uses the gross method to account for sales transactions on account that offer customers an early$-$payment discount.

The second division uses the net method to account for sales transactions on account that offer customers an early$-$payment discount.

The Data worksheet contains of a list sales for each month in a year.

Each row provides information about one sale to one customer, including invoice date, customer name, discount method, invoice amount, cost of goods sold, percent of eligible discount, and date of payment by the customer.

Required: