Probiem 4 (13 points) Marshall Industries sells household furniture. Marshall has a sale on Nov. 1,...

 

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Probiem 4 (13 points) Marshall Industries sells household furniture. Marshall has a sale on Nov. 1, 2021 promoting the "Future Living Room (or FLR)" which consists of a sofa, Hi-def TV, and a coupon to buy future accessories. The FLR sells for $2,500, and customers are aware that if supplies run out, they will have to wait a couple months. The sofa sells for $1,600 stand-alone, and the TV sells for $2,000 stand-alone. The coupon is for 30% of a future purchase. Marshall expects that the average price of a future purchase will be $500, and Marshall expects 40% of customers to use the coupon. Marshall sells 100 of the FLR in November. By the end of the year, all of the TV's were delivered but only 60 of the sofas had been delivered to customers. None of the coupons had been exercised yet. Show work and prepare the entries made during November as well as December 31 (its year-end). Be sure to show work. Date Acct(s) and Amount(s) Debit Acct(s) and Amount(s) Credit During November Dec 31, 2021 Work (for partial credit) Probiem 4 (13 points) Marshall Industries sells household furniture. Marshall has a sale on Nov. 1, 2021 promoting the "Future Living Room (or FLR)" which consists of a sofa, Hi-def TV, and a coupon to buy future accessories. The FLR sells for $2,500, and customers are aware that if supplies run out, they will have to wait a couple months. The sofa sells for $1,600 stand-alone, and the TV sells for $2,000 stand-alone. The coupon is for 30% of a future purchase. Marshall expects that the average price of a future purchase will be $500, and Marshall expects 40% of customers to use the coupon. Marshall sells 100 of the FLR in November. By the end of the year, all of the TV's were delivered but only 60 of the sofas had been delivered to customers. None of the coupons had been exercised yet. Show work and prepare the entries made during November as well as December 31 (its year-end). Be sure to show work. Date Acct(s) and Amount(s) Debit Acct(s) and Amount(s) Credit During November Dec 31, 2021 Work (for partial credit)

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Lets solve this Given FLR sales in Nov 100 Rate per ... View the full answer