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Please check if my answers are correct. I already answered them but I just wanna make sure that they are correct Metropolis Books sold 52,300
Please check if my answers are correct. I already answered them but I just wanna make sure that they are correct
Metropolis Books sold 52,300 copies of a best-selling novel in July for $8 each Included in each book was a $4 mail-in rebate for a future book purchase if the customer sends in proof of purchase with a completed rebate form, Metropolis estimates that 9% of the purchasers will claim the rebate. Calculate the sales revenue and the unearned revenue related to the loyalty program that Metropolis earned in July on this book (Round answers to decimal places, eg. 5,276. Do not round intermediate calculation.) Earned revenue $ 399572 Unearned revenue $ 18828 Prepare the journal entry to record the sale and the unearned revenue Metropolis Books should record. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Cash 418400 Sales 399572 Unearned Revenue-Loyalty Program 18828 (To record sales and unearned revenue related to the loyalty program.) View Policies Current Attempt in Progress Data on four promissory notes accepted by Carla Vista Interiors during 2021 follow. Determine the missing amounts. Note # Principal Annual Interest Rate Time Total Interest 1 (a) $ 17100 996 4 months $513 2 $34,200 1096 6 months (c) $ 1710 $68,400 (b) 6 96 5 months $1.710 4 $51,300 896 4 months (d) $ 1368 Attempts: 0 of 1 used Submit Answer Save for Later Last saved 32 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutesStep by Step Solution
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