Please answer 5-82A part 1

If the controller is correct, determine how much the new sales discount policy would add to not sales and gross margin Conceptual connection Explain why the sales discount policy might improve cash flow Helmkamp products with golf clubs and accessories to pro shops. Gross sales in 2013 were list price) on terms 2/15, n/45. Customers paid for $2,000,000 (Helmkamp's list price) of the within the discount period and the remaining $850, 708 after the end of the discount period. Helmkamp records purchases and sales using the gross method to account for sales discounts. Compute the amount of net sales. Determine how much cash was collected from sales. Sims Company regularly provides services to Lauber Supply on terms 1/15, n 30 and records at gross. During a recent month, the two firms engaged in the following transactions" Sims provided services with a list price of $85,000. Sims provided services with a list price of $30,000. Lauber paid for the purchase in Transaction a within the discount period. Lauber paid for the purchase in Transaction a after the discount period. Prepare the journal entries for Sims to record the sales in Transactions a and be (make separate entries) Prepare the journal entries for Sims to receipt the sales in Transactions c. Prepare the journal entries for Sims to receipt the sales in Transactions Conceptual connection What implied annual interest rate is Lauber incurring by failing to take the sales discount and, instead, paying the gross amount after 30 days? Yancy's Hardware has three stores. Each store manager is paid a salary plus a bonus on the sales made by his or her store. On January 5, 2014, Bill Slick, manager of one of the stores, resigned, . Bill's store had doubled its expected December 2013 sales, producing a bonus for Bill of $6,000 in December alone. Charles Brook, an assistant manager at another store, was assigned as manager of Bill's store. Upon examination of the store's accounting records, Charles reports that the store's records indicated sales returns and allowances of $96,000 in the first 4 days of January 2014, an amount equal to about half of December 2013 sales