Madison Leather sold merchandise for $91,000 cash in January. Returns that month totaled $1,000. If the company's gross profit margin is 30%, Madison Leather will report monthly net sales revenue and cost of goods sold (respectively) of O $91,000 and $62,700. O $92,000 and $64,400. O $90,000 and $64,000. O $90,000 and $63,000. All of the following are considered cash equivalents EXCEPT GICS. O treasury bills. O post-dated cheques. O term deposits. If a customer purchases $5,000 of inventory and pays with the company's own retail card, what will the journal entry include? O credit to accounts payable of $5,000 O debit to cash of $5,000 O debit to sales of $5,000 O debit to accounts receivable of $5,000 The Joris Jeans Warehouse had the following inventory activity for the month of September for their most popular style of jeans. Unit Total Units Cost ($) Cost ($) 01-Sep Beg. Inventory 150 60.00 9,000 10-Sep Purchase 300 63.00 18,900 12-Sep Sales (400) 15-Sep Purchase 100 62.00 6,200 26-Sep Purchase 250 61.00 15,250 30-Sep Sales (300) What was the FIFO cost of goods sold for the September 12 sale, assuming Joris Jeans is using the perpetual inventory system? $24,900 O $24,800 O $24.750 O $25,200 Which of the following statements is TRUE? The cost of a building includes the cost of adding improvements such as fencing and landscaping O The cost of a building includes interest incurred during construction. The cost of a building includes the cost of removing a demolished building on the land when it was purchased. The cost of a building includes the cost of repairing broken windows after construction is complete