The following are selected transactions of Sandhill during February. The Store sells seasonal holiday items....

80.2K

Verified Solution

Question

Accounting

The following are selected transactions of Sandhill during February. The Store sells seasonal holiday items. 2/3 2/8 2/10 2/14 2/28 2/28 Sold 58 heart balloons for $5 cash each. Sold 90 boxes of chocolates at $10 each, terms 2/10, n/30. Collected within the discount period. Sold 53 heart necklaces for $22 each with no discount. Have not collected as of month-end. Sold 160 bouquets of roses at $32 per bouquet. Half the sales were on account. By month-end, 75% of the credit sales were collected. Sold 29 leftover heart necklaces to a discount store for $18 each on credit. Provided a loan to the company president for $230. Determine the balance in Accounts Receivable at 2/28. Total Accounts Receivable $ 3228
image
The following are selected transactions of Sandhill during February. The Store sells seasonal holidayitems. 2/3 Sold 58 heart balloons for $5 cash each. 2/8 Sold 90 boxes of chocolates at $10 each, terms 2/10,/30, Collected within the discount period. 2/10 Sold 53 beart neckiaces for $22 each with no discount. Hiwe not collected as of month-end. 2/14 Sold 160 bouquets of roses at $32 per bouquet. Half the sales were on account. By month-end. 75% of the credit sales were collected. 2/28 Sold 29 leftover heart necklaces to a discount store for $18 each on credit. 2/28 Provided a loan to the company president for $230. Determine the balance in Accounts Receivabie at 2/28. Total Accounts Receivable s

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students