The Following Are Sales of the Holiday Store During February

question 11

Essay

The following are sales of The Holiday Store during February. The Store sells seasonal holiday items.
2/3 Sold 50 heart balloons for $5 cash each.
2/8 Sold 100 boxes of chocolates at $10 each, terms 2/10, n/30. Collected within the discount period.
2/10 Sold 50 heart necklaces for $25 each with no discount. Have not collected as of month end.
2/14 Sold 100 bouquets of roses at $30 per bouquet. Half the sales were on account. By month end, 75% of the credit sales were collected.
2/27 Sold 20 leftover heart necklaces to a discount store for $15 each on credit.
2/28 Sold a display cabinet at a swap meet for $100 on account.
Determine the balance in Accounts Receivable at 2/28.

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Definitions:

External Environments

The external factors and forces outside an organization that can affect its performance, such as economic conditions, competition, and regulation.

SWOT Analysis

A tool for strategic planning that helps identify the Strengths, Weaknesses, Opportunities, and Threats associated with business competition or the planning of a project.

Quantitatively

Pertaining to measurements, analyses, or data that can be expressed in numerical terms, often used in research and analytics.

Easily Attainable Objectives

Goals set by an individual or organization that are realistic and can be achieved with a reasonable amount of effort.