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xpeditions provides guided fishing tours. The company charges $190 per person but offers a 10% discount to parties of four Consider the following transactions
xpeditions provides guided fishing tours. The company charges $190 per person but offers a 10% discount to parties of four Consider the following transactions during the month of May. Charlene books a fishing tour with Brooks Expeditions for herself and four friends at the group discount price ($855 $1715). The tour is scheduled for May 7. The fishing tour occurs. Brooks Expeditions asks that payment be made within 30 days of the tour and offers a 4 discount for payment within 15 days. Charlene is upset that no one caught a single fish and asks management for a discount. Brooks Expeditions has a strict policy of no discounts related to number of fish caught. Upon deeper investigation, management of Brooks Expeditions discovers that Charlene's tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 40% of the amount due. Brooks Expeditions receives the amount owed by Charlene. ed: ord the necessary transaction(s) for Brooks Expeditions on each date. w how Brooks Expeditions would present net revenues in its income statement. plete this question by entering your answers in the tabs below. red 1 Required2 how Brooks Expeditions would present net revenues in its income statement. (Do not round intermediate calculations. Round your answers to 2 decimal BROOKS EXPEDITIONS Partial Income Statement our revenues Sales allowances 855.00 342.00 30.72 Sales discounts bur revenues $ 0.00 452.22
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