EPZA Co. consigned 5 electronic appliances costing $4,000 each to PEZA Co., which was to sell them
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EPZA Co. consigned 5 electronic appliances costing $4,000 each to PEZA Co., which was to sell them for a 15% commission on the selling price. Any accounts receivable arising from the sale of the consigned goods were to be the property of EPZA Co. EPZA Co. paid freight cost of $1,000 and reimbursed PEZA $850 for local delivery to customers. By December 31, PEZA had sold three appliances, two of which were for cash at $7,500 each and one on credit at $9,000 of which it had collected 25% as a down payment. Assuming that PEZA makes an interim settlement as of December 31, it should remit cash to EPZA of?
Related Book For
Business Statistics A First Course
ISBN: 9780321979018
7th Edition
Authors: David M. Levine, Kathryn A. Szabat, David F. Stephan
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