Question
Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few
Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet wont damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025. All watches are sold for $820 each.
July 17 | Purchased 98 watches for $14,700 ($150 per watch) on account. |
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July 31 | Sold 72 watches for $59,040 cash. |
August 12 | Purchased 72 watches for $11,520 ($160 per watch) cash. |
August 22 | Sold 62 watches for $50,840 on account. |
September 19 | Paid for watches purchased on July 17. |
September 27 | Receive cash of $30,504 for watches sold on account on August 22. |
October 27 | Purchased 160 watches for $26,240 ($164 per watch) cash. |
November 20 | Sold 142 watches for $116,440 cash. |
December 4 | Purchased 132 watches for $22,968 ($174 per watch) on account. |
December 8 | Sold 72 watches for $59,040 on account. |
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