Michelle went to Baguio and bought 20 jars of strawberry jam for 3,500 pesos with 15% discount. When she got back to manila, she sold 10 of the jars for a total of 1,800 pesos and the rest as 185 pesos. How much profit did Michelle gain?

._______ An international barter transaction.

Is downsizing an unethical practice if manufacturers do not inform con- sumers that the package contents are less than they were previously?

Gamestop Corp. said the following about its gift card sales in its most recent (2019) annual report:“We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed.”When Gamestop sells merchandise to a customer who is using a Gamestop gift card to purchase the merchandise, what is the impact on Gamestop’s financial statements? (Ignore any inventory effects)     Liabilities decrease and cash decreases     Liabilities increase and the Income Statement decreases     Liabilities decrease and the Income Statement increases     Liabilities decrease and cash decreases     No effect because the transaction was already booked when the customer purchased the gift card