Ask Question
BusinessBusiness
15 January, 19:47

sold inventory for $ 280 comma 000 , terms 4 /10, n/30. Cost of goods sold was $ 160 comma 000. How much sales revenue will Old Oak Winery report from the sale? (Assume the company records sales at the net amount.) A. $ 268 comma 800 B. $ 280 comma 000 C. $ 120 comma 000 D. $ 160 comma 000

+2
Answers (1)
  1. 15 January, 23:22
    0
    A. $ 268,800

    Explanation:

    According to the net method,

    A company will report the sales after deducting the discount (if there is any discount term is given) assuming that the buyer will pay the money within the discounting period.

    Therefore, Old Oak Winery will report the sale as follows:

    Sales revenue = $280,000

    Less: Sales discount ($280,000 * 4%) = $ 11,200

    Net Sales revenue = $268,800

    Hence, option A is correct.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “sold inventory for $ 280 comma 000 , terms 4 /10, n/30. Cost of goods sold was $ 160 comma 000. How much sales revenue will Old Oak Winery ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Which is the biggest company in Germany?
Answers (1)
Which of the following scenarios are potential candidates for the Chi-square test? Check all that apply.
Answers (1)
Art invested $100 two years ago at 8 percent interest. The first year, he earned $8 interest on his $100 investment. He reinvested the $8. The second year, he earned $8.64 interest on his $108 investment. The extra $.
Answers (1)
A contract between two seafood companies specifies "F. A. S. The Mermaid, Fort Lauderdale, FL," and the goods are to be shipped to Anchorage, Alaska.
Answers (1)
Assume a demand equation for good 'x': Upper Q equals 9 minus 0.1 p minus p Subscript y Baseline plus 0.01 p Subscript z Baseline plus 0.
Answers (1)
New Questions in Business
Why would an advertiser use a mixed-media approach? It is less expensive than a homogeneous media mix It gives more exposure than a heterogeneous media plan It is easier to schedule than any other type of media mix It produces an effect where the
Answers (1)
Select the answer that best decribes what an opportunity cost is
Answers (1)
Suppose the U. S. government encouraged consumers to trade in their old automobiles for more efficient, new models by paying up to $5,000 for the old automobiles.
Answers (1)
What are the principal accounting reports involved in the financial reporting process? in general terms, what is the purpose of these reports?
Answers (1)
Using technological tools to craft reports and proposals a. reduces the mechanical work involved in developing long reports and proposals. b. eliminates the need for the writer to do any work. c.
Answers (1)
Home » Business » sold inventory for $ 280 comma 000 , terms 4 /10, n/30. Cost of goods sold was $ 160 comma 000. How much sales revenue will Old Oak Winery report from the sale? (Assume the company records sales at the net amount.) A. $ 268 comma 800 B.
Sign Up Forgot Password?