A July Sales Forecast Projects That 6,000 Units Are Going

question 135

Multiple Choice

A July sales forecast projects that 6,000 units are going to be sold at a price of $10.50 per unit. The management forecasts 2% growth in sales each month
- Total July sales are anticipated to be:

• A) $60,000.
• B) $64,260.
• C) $61,250.
• D) $67,500.
• E) $63,000.

Understand the impact of inventory transactions on the accounting equation.

Record transactions related to purchases and sales, utilizing the gross method for sales discounts.

Understand the concepts of asset turnover ratio and the accounting for sales discounts.

Understand and apply the fundamentals of recording transactions in a journal.