B-05.12 Problem

B-05.12 Problem - B-05.12 Seaside Village is a retirement...

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B-05.12 Seaside Village is a retirement community, and many residents work together on a local charitable auction to raise money to support community endeavors. Basically, volunteers solicit residents and local merchants to donate items for the auction. The night of the auction, volunteers bring in their donated items for display on tables placed around the floor of the town's school gymnasium. Virtually the whole town turns out to bid on items that are up for sale. The lucky purchaser makes payment at a collection booth that is staffed by two of the volunteers. At the end of the evening, the buyers collect their items. A volunteer takes the money home to count. The money is deposited to the charity's bank account on the following day. Following last year's auction, many complaints were heard. One merchant complained that he had donated an expensive LCD television, but it was not offered for sale at the auction. One of the buyers complained that the item she paid for was not to be found at
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

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B-05.12 Problem - B-05.12 Seaside Village is a retirement...

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