At FolktownFolktown Arts, gross sales for the monthincluded:

Sales on account (3/10, n/30) $120,000

Credit Card Sales (2% credit card fee) $150,000

Requirement 1. Journalize the sales onaccount, the credit card sales, and the cash payments on account received during the month. (Use the gross method to record the sales transactions. Record debits first, then credits. Exclude explanations from any journal entries.)

First, record the sales on account.

Next, record the credit card sales.

Now, record the cash payments on account received during the month. (Prepare a compound entry for all cash payments on account received during the month.) ( Can you explain how you calculated the sales discount)

Requirement 2: Calculate the net sales revenue for the month.

Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach

Who is not spending wisely? erika goes shopping and saves her receipts. she totals how much she spent and writes it down. mia needs to buy a new pair of shoes because she joined the soccer team. she looks at newspaper ads to find the best price. lauren has been thinking about getting a puppy for a long time. she walks by the pet store at the mall and decides to get a puppy. erin makes a purchase online using a credit card. she knows that she can pay the entire bill when it arrives.

Employees at a library check out books to patrons. books have an isbn and a name. the library sometimes has multiple copies of the same book. books have one or more authors. a patron is an individual who has an active (non-expired) library card. for each library card, we store the person's first and last names and their address. for each employee, we store their employee id, current salary, first and last name and their address. we also store the employee id of their current manager. each time we check out a book to a patron we need to store the date of the transaction, the employee who checked out the book to the patron, and the library card of the patron. some employees have library cards. if an employee patron turns in a book late, the fine that they pay is a percentage of their salary. some employees are authors who have library cards—they are allowed to check out as many books as they like.