18\ A credit sale of $1,200 is made on April 15, terms 2/10/EOM, n/30. The buyer gets a cash discount of 2% if he makes the settlement on or before:

a\ 10th May

b\ 30th June

c\ 10th April

d\ 10th June

19\. Q51

Presented below are the components in Al Qud Furniture Houses income statement. Determine the missing amounts

Sales Revenue =.$75,000

i\ Cost of Goods Sold =. a\ $18,200

b\ $47,000

c\ $37,800

d\ $65,200

Gross Profit =. $28,000

ii\ Operating Expenses =. a\ $18,200

b\ $47,000

c\ $37,800

d\ $65,200

Net Income =. $9,800

20\ Gross Profit is calculated as:

a\ Net Purchases Cost Goods Sold

b\ Net Sales Cost of Goods Purchased

c\ Net Sales Cost of Goods Sold

d\ Net Purchases Cost of Goods Purchased

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