Solve the Problem A)25055
B)250

question 56

Multiple Choice

Solve the problem.
-Using the information in the table on home sale prices in the city of Summerhill for the month of June, find the class midpoint for class 235.0-265.9. $$\begin{array} { c | c } \text {Class Limits}& \text {Frequency}\\ \text {(Sale price in thousands) }& \text {(No. of homes sold) }\\\hline 80.0 - 110.9 & 2 \\111.0 - 141.9 & 5 \\142.0 - 172.9 & 7 \\173.0 - 203.9 & 10 \\204.0 - 234.9 & 3 \\235.0 - 265.9 & 1\end{array}$$

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Definitions:

Special Journals

Accounting journals designed for the repeated recording of specific types of transactions, such as sales or purchases, to streamline the accounting process.

Cash

A form of liquid asset that represents the currency that a business or individual can immediately access and use for transactions.

Receivables

Funds that are owed to a company by its customers or clients for goods or services already delivered.

Payables

Short-term liabilities of a company, representing amounts owed to suppliers or creditors for goods and services received but not yet paid for.