On November 1, 2015, Paramount Inc. sold merchandise with a cost of $5,000 for $10,000, FOB destination, with payment terms of 3/10, n/40. The company paid transportation costs of $100. Of these, merchandise sold for $3,000 (with a cost of $1,500) was returned on November 6. The company received the payment for the balance amount on November 10, 2015. Calculate the Net sales revenue.
A. $6,790
B. $7790
C. $4790
D. $7,000
Ans: A. $6,790
You might also like to view...
Yellow Dog Transit sold an old truck on December 31, 2013, for $18,400 cash. The following data was available when the truck sold: Acquisition cost $75,000 Estimated residual value at time of acquisition 8,000 Accumulated depreciation on December 31, 2013 after adjustment 53,600 When this transaction is recorded, it should include a(n)
a. Loss on Disposal account for $3,000 b. Decrease of $21,400 to the Truck account c. Gain on Disposal account for $3,000 d. Gain on Disposal account for $5,000
Audit staff performing audit work must be appropriately supervised by partners and managers
a. True b. False Indicate whether the statement is true or false
Marlene Arau is a member of the sales force at Urban Fashions, a clothing manufacturer. Marlene is preparing for a first meeting with a wholesaler who is a potential customer
Marlene is learning as much as she can about the wholesaler's organization. Marlene is in the ________ step of the personal selling process. A) prospecting B) sales presentation C) preapproach D) approach E) overcome objections
An FTD ad shows a woman holding a very large vase of flowers. The background is red and the only text in the ad is "Mother's Day." What type of ad is this?
A. special occasion B. subliminal C. reminder D. comparative E. pioneering