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URGENT HELP PLEASE! 3 questions. Question 44 (2 points) On February your business sold inventory worth $56000 to a customer for $42000. You shipped it
URGENT HELP PLEASE! 3 questions.
Question 44 (2 points) On February your business sold inventory worth $56000 to a customer for $42000. You shipped it FOB shipping point and the terms were 2/15,n/30. The next day, the appropriate party paid the freight company $1100. Four days later the customer retumed 20% of his order. You received payment on February 20. How much did the customer pay you? 1 Question 45 (2 points) Which of the following transactions does NOT change the net realizable value of accounts receivable? Select all that apply. a) writing off an account receivable b) receiving a cheque from a customer whose account receivable was previously written oft Od cash sales Od recording bad debt expense De) a sales return, where the original sale was on account Question 46 (1 point) If, at your year end, you determine tha: Inventory which originally cost you $20 per item can now only be sold for $25 each instead of the usual selling price of $40 each, what must you do? a reduce Inventory by $5 per item but do not record a loss until the items are sold b) Increase inventory Losses by $5 per item but do not adjust inventory antil the items are sold ed make no adjustment at al Outetut the tems to VET SUR reduce Inwentary and increase inventory Liss Cost of Goods Sold ts3 Step by Step Solution
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