Please answer all the questions for this Problem 7d: Accounts Receivable and Unc

Question

Please answer all the questions for this

Problem 7d: Accounts Receivable and Uncollectible Accounts Expense For questions 1-7 he rimeau M er handising ompany current y se s pro ucts on y trou r ? its store in Lowe ne compan s es e e ncome state nen tors rations n une soes nted elowï Primeau Merchandising Company For the Month Ended June 30 Sales Cost of Goods Sold Gross Profit Operating Expenses Income Before Taxes Income Taxes Expense Net Income $400,000 220.000 $180,000 100.000 $80,000 $28.000 $52.000

Explanation / Answer

Question 2- C - $16,200

Question 3.- B- $ 2,160

Question 4. - a -$8,640

Question 5. - e $7,560

Question 6. - b - 2,646

Question 7 - d- 4,914

Dear Student,

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Sales $        36,000 Less: Cost of Goods Sold(36000*55%) $        19,800 Gross Profit $        16,200 Operating Expenses(36000*18%+2160) $          8,640 Income Before Tax $          7,560 Income Tax(7560*35%) $          2,646 Net Income $          4,914

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