Cash 20,000 NOU NOT be required Wance with each sale Untory records D) A weekly count of the inventory Answer Questions 2-5: Please refer to the following trial balance Debit Credit Accounts receivable $25,000 Ending Inventory 14,000 Supplies Land 6,000 100,000 Accounts payable $10,000 Notes payable Capital Sales revenues Sales returns and allowances Sales discounts Purchases 100,000 Purchase Returns and Allowances Purchase Discounts Salary expense Utility expense 3,000 18,000 Rent expense Interest expense Freight in expense Freight out expense Totals 25,000 90,000 160,000 2.000 3.000 5,000 2,000 3,000 4,000 $305,000 2) How much are Cost of Purchase? $305,000 A) $80,000 B) $75,000 C) $27,000 D) $83,000 3) What is Net sales revenue? A) $ 155,000 B) $160,000 C) $27,000 D) $75,000 4) Given that beginning inventory was $45,500 What is Cost of Goods Sold? A) $ 155,000 B) $62,000 C) $108,500 D) $93,000 5) What is the Net Income? A) $17,500 B) $13,500 C) $14,500 D) $20,000