Question 21 Oriole Company on July 15 sells merchandise on acccount to Tayler Co, for $3300, terms 4/10, n/30. On July 20 Tayler Co. returns merchandise worth $1200 to Oriole Company. On July 24 payment is received from Tayler Co. for the balance due. What is the amount of cash received? $3300 $2100 $2016 $1968 Question 20 Whispering Winds Corp. started the year with $55200 in its Common Stock account and a credit balance in Retained Earninqs of $40500. During the year, the company earned net income of $44200 and declared and paid $18400 of dividends. In addition, the company sold additional common stock amounting to $25800. As a result, the amount of its retained earnings at the end of the year would be O$121400. $92000. O $147200. $66300. 10 PM/Remaining Question 19 Sheridan Company has the following inventory data: $400 July 1 Beginning inventory 25 units at $16 88 units at $17 1496 7 Purchases 234 13 units at $18 22 Purchases $2130 A physical count of merchandise inventory on July 30 reveals that there are allocated to cost of goods sold for July is $1475 $1437. $655 $693 Question 18 At the beginning of the year, Uptown Athletic had an inventory of $560000. During the year, the company purchased goods costing $2140000 If Uptown Athletic reported ending inventory of $980000 and sales of $3080000, their cost of goods sold and gross profit rate would be $1720000 and 44.16 % . $1360000 and 56%. $1920000 and 44%. $1160000 and 55.84 %