Brooks Expeditions provides guided fishing tours. The company charges $210 per person but offers a 20% discount to parties of four or more. Consider the following transactions during the month of May. May 2 May 7 May 9 May 15 May 20 Charlene books a fishing tour with Brooks Expeditions for herself and four friends at the group discount price ($840 x 5). The tour is scheduled for May 7. = $168 The fishing tour occurs. Brooks Expeditions asks that payment be made within 30 days of the tour and offers a 6% discount for payment within 15 days. Charlene is upset that no one caught a single fish and asks management for a discount. Brooks Expeditions has a strict policy of no discounts related to number of fish caught. Upon deeper investigation, management of Brooks Expeditions discovers that Charlene's tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 30% of the amount due. Brooks Expeditions receives the amount owed by Charlene. Required: 1. Record the necessary transaction(s) for Brooks Expeditions on each date. 2. Show how Brooks Expeditions would present net revenues in its income statement.

Brooks Expeditions provides guided fishing tours. The company charges $210 per person but offers a 20% discount to parties of four or more. Consider the following transactions during the month of May. May 2 Charlene books a fishing tour with Brooks Expeditions for herself and four friends at the group discount price (S840 = $168 5). The tour is scheduled for May 7 . May 7 The fishing tour occurs. Brooks Expeditions asks that paysent be made within 30 days of the tour and offers a 6K discount for paynent within 15 days. May 9 Charlene is upset that no one caught a single fish and asks managenent for a discount. Erooks. Expeditions has a strict policy of no discounts related to number of fish caught. May 15 Upon deeper investigation, manogesent of Brooks fxpeditions discovers that Charlene's tour was led by a neu guide who did not take the group to sone of the better fishinit spots. In concession, managenent offers a sales aliowarice of jos of the May 20 Brooks Expeditions receives the anount oved by Charlene. Required: 1. Record the necessary transaction(s) for Brooks Expeditions on each date. 2. Show how Brooks Expeditions would present net revenues in its income statement. Problem 5-2A (Algo) Record transactions related to credit sales and contra revenues (LO5-1, 5-2) Brooks Expeditions provides guided fishing tours. The company charges $210 per person but offers a 20% discount to parties of four or more. Consider the following transactions during the month of May. May 2 Charlene books a fishing tour with Brooks txpeditions for herself and four friends at the group discount price (\$s4e = \$168 5). The tour is scheduled for May ?. May 7 The fishing tour occurs. Brooks Expeditions asks that payment be nade within 30 days of the tour and offers a 6x discount for payment within 15 days. Hay 9 Charlene is upset that no one caught a single fish and asks managesent for a discount, Brooks fxpeditions has a strict policy of no discounts related to number of fish caught. May 15 Upon deeper investigation, managesent of Brooks Expeditions discovers that Charlene's tour was led by a new guide who did not take the group to sane of the better fishing spots. In concession, managenent offers a sales allowance of jos of the asount due. May 20 Brooks Expeditions receives the anount oned by Charlene. Required: 1. Record the necessary transaction(s) for Brooks Expeditions on each date. 2. Show how Brooks Expeditions would present net revenues in its income statement