farley music shop gives its customers coupons redeemables for a poster plus a dixie chicks CD.one coupon is issued for each dollar of sales.on the surrender of 100 coupons and $5.00 cash,the poster and cd are given to the customer.it is estimated that 80% of the coupons will be presented for redemption.sales for the first period were $700,000 and the coupons redeemed totaled 340,000.sales for the second period werw 840,000 and the coupons redeemed totaled 850000.farley music shop bought 20,000 poster at $2.00/poster and 20,000 CDs at $6.00/CD
instructions:prepare the necessary journal entries for the two periods,assuming all the coupons expected to be redeemed from the first period were redeemed by the end of the second period.
Recently Asked Questions
- For the circuit given below, find the normal form for the inductor current and capacitor voltage. Use Matlab (Create an .m file. Use lsim function) and
- Suppose that we wish to establish 3 -letter passwords, requiring that no letter be repeated in a password. How many 3 -letter passwords are possible? (There
- The TVM problems can all be solved within the Excel financial formulas. For car payments, the PV = The amount financed, N = number of months the car payments