Use the Information That Follows Concerning Ruby Company to Answer

question 107

Essay

Use the information that follows concerning Ruby Company to answer problems 18 through 20.
Ruby Company sells office supplies. Below is a list of purchases and sales for the month of January:

-Toyz's Retail Store sold $900 of merchandise to Ebony Inc. on April 3, terms, 2/10 EOM. On April 8, Ebony returned $200 of the merchandise that was defective. The original merchandise sold cost Toyz $600 with terms N30, but of this amount, $70 was returned. Toyz received payment from Ebony on April 10. What amount of sales and cost of goods sold should Toyz record for these transactions?

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Definitions:

Conscientiousness

A personality trait characterized by organization, thoroughness, reliability, and a strong sense of duty.

Variance

A statistical measure that represents the spread or dispersion of a set of data points, indicating how much the data vary from the average value.

Big Five

A theory of personality recognizing five broad dimensions that represent the most significant variations in human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Birth Order

The theory that attributes various personality traits and behavioral differences to a person's order of birth within their family.