Cheyenne sells softball equipment. On November 14, they shipped $5000 worth of softball uniforms to Flounder Middle School, terms 4/10, n/30. On November 21, they received an order from Douglas High School for $2400 worth of custom printed bats to be produced in December. On November 30, Flounder Middle School returned $580 of defective merchandise. Cheyenne has received no payments from either school as of month end. What amount will be recognized as accounts receivable, net on the balance sheet as of November 30? $7000 $5000 $4420 $7580

a local shoe outlet ordered 30 pairs of tennis shoes from nike corporation. The shoes were priced at $75 for eaxh pair with the following terms: 4/10, 2/30, n/60. The invoice was dated october 15. The store sent in a payment on October 28. What should have been the amount of the check?

Geoff and Sandy Harland own and operate Wayward Kennel and Pet Supply. Their motto is, “If your pet is not becoming to you, he should be coming to us.” The Harlands maintain a sales tax payable account throughout the month to account for the 6% sales tax. They use a general journal, general ledger, and accounts receivable ledger. The following sales and cash collections took place during the month of September: September Transactions: Sept. 2 Sold a fish aquarium on account to Ken Shank, $125 plus tax of $7.50, terms n/30. Sale No. 101.   3 Sold dog food on account to Nancy Truelove, $68.25 plus tax of $4.10, terms n/30. Sale No. 102.   5 Sold a bird cage on account to Jean Warkentin, $43.95 plus tax of $2.64, terms n/30. Sale No. 103.   8 Cash sales for the week were $2,332.45 plus tax of $139.95.   10 Received cash for boarding and grooming services, $625 plus tax of $37.50.   11 Jean Warkentin stopped by the store to point out a minor defect in the bird cage…

Chipolo sells a coin-sized tracking tag that attaches to keys, wallets, and other personal items. Chipolo began January with an inventory of 200 tags purchased from its supplier in November last year at a cost of $12 per tag, plus 100 tags purchased in December last year at a cost of $15 per tag. Chipolo sells the tags at a price of $30 per tag, on account with terms n/30, FOB destination. Chipolo uses a perpetual inventory system to account for the following transactions.   Jan.   8   Chipolo gave 250 tags to a courier company (FedEx) to deliver to customers. Jan.   9   FedEx confirmed that all 250 tags were delivered today to customers. Jan.   11   Chipolo ordered 350 tags from its supplier. The supplier was out of stock but promised to send them to Chipolo as soon as possible. Chipolo agreed to a cost of $21 per tag, n/30. Jan.   17   Chipolo received cash payment from customers for 125 of the tags delivered 8 days earlier. Jan.   21   The 350 tags ordered on January 11…