Zounds Sounds, a Music Store, Ordered 20 Cases of Blank

question 3

Essay

Zounds Sounds, a music store, ordered 20 cases of blank cassette tapes from Polymuse Inc.Each case costs $100, so that the total contract price was $2000.In fact, Polymuse delivered 23 cases of tapes to Zounds.Is Zounds required to accept some or all of those cases? If so, what price will it be required to pay?

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Definitions:

Sales Revenue

The total amount of money a company receives from its sales of goods or services before any expenses are subtracted.

Cross-Footing

A bookkeeping process that involves checking the mathematical accuracy of figures in financial statements by ensuring that sums of columns and rows respectively match.

Cash Receipts Journal

A specialized accounting journal used to record all receipts of cash.

Equality

In financial terms, refers to the state where two values, amounts, or figures are of the same value or balance each other out.