Answered step by step
Verified Expert Solution
Question
1 Approved Answer
the boat February sales receipts Set Stores Inc printed 2-off coupons. The may be redeemed March 1-Apr 30. Set Stores Inc, accepts anty cash,
the boat February sales receipts Set Stores Inc printed 2-off coupons. The may be redeemed March 1-Apr 30. Set Stores Inc, accepts anty cash, MasterCard or VISA. During February, Seifert Stores the selected Feb. 6. Sold merchandise to Marc Andrews with a list once of 175 that cost eert Stores Inc. $80. Har presented a $5-off, which she dipped out of the local newspaper. Hart used her VISA cand for the pur 18 Sold and to Chris Johan with a list price of $50 that cost Seifert Stores $24. The bettom of Chris John's cash receipt includes the 12-ff coupon, Chris paid cash for Set Stores Inc said $40,000,000 of merchandise in March and that 1,400,000 if the $2-aff coupons were redeemed. The cost of the merchandise sold was 23.600.000 Sourate on March 31, the March sees for Sefent St 31 purchase Mar 21 Assume that Seifert Stores Inc set $21.500,000 of methan Apr 30 Apt 30 amount box doe Assume that Sefert Stores Inc. sold $25,000,000 of merchants in February, which generated 12,500,000 printed sales receipts before they expire Apre 30 What is the balance of Estimated Coupons on Apr 3 mehandse s $16,500,000 Siefen Stores Inc estimates that 15% of the 52-eff coupons printed in February will be redeemed d. Journale the expiration of the remaining coupon April 30. If an amount box does not require an entry Apr 30 a. Journalize on March 31, the March sales for Seifert Stores Inc. If an amount box does not require an entry, leave it blank. Mar. 31 Mar 31 b. Assume that Seifert Stores Inc. sold $33,500,000 of merchandise in April and that 440,000 of the $2-off coupons were redeemed. The cost of the merchandise sold was $19,100,000. require an entry, leave it blank. Apr. 30 Apr. 30 38 c. Assume that Seifert Stores Inc. sold $25,000,000 of merchandise in February, which generated 12,500,000 printed sales receipts. The merchandise sold cost $16,500,000. Siefert S before they expire April 30. What is the balance of Estimated Coupons Payable on April 30? d. Journalize the expiration of the remaining coupons on April 30. If an amount box does not require an entry, leave it blank. Apr. 30 :88
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started