Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Aug 15 - Paid utilities of $5000 - Breakdown is Water 15%, Gas 35% Electricity 50%. Aug 15 - Sold 1,000 pairs of Adidas to
Aug 15 - Paid utilities of $5000 - Breakdown is Water 15%, Gas 35% Electricity 50%. Aug 15 - Sold 1,000 pairs of Adidas to customers and recorded $80,000 of sales in cash. Aug 17 - Sold 2,900 pairs of Nike to customers and recorded $203,000 of sales in cash. Aug 19 - Sold 5,000 pairs of Reebok to customers and recorded $300,000 of sales in cash. Aug 21 - Sold 5,000 pairs of Misc to customers and recorded $225,000 of sales in cash. Aug 28 - The owner of the company advises you that during the entire month of Aug a total of 175 shoes have been returned for a full refund and must be returned back to the vendor for credit. Below is the breakdown: Nike -50 pairs of shoes Adidas - 25 pairs of shoes Reebok - 25 pairs of shoes Misc - 75 pairs of shoes Sol: 1
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started