the following information pertains to Newman company. assume thatball balance sheet amounts represent both average and ending balance figures and that all sales were credit

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Acustomer has come to your department with an urgent question. you promised her that you would collect information about her question and answer it by noon. it will take you at least 20 minutes to gather the information needed to provide an answer. it is now 11: 50 a.m. your supervisor just scheduled a 30-minute meeting to start at noon. this meeting is for all employees in your department. you decide to:

He taylor company sells music systems. each music system costs the company $100 and will be sold to the public for $250. in year one, the company sells 100 gift cards to customers for $250 each ($25,000 in total). these cards are valid for just one year, and company officials expect them to all be redeemed. in year two, only 96 of the cards are returned. what amount of net income does the company report for year two in connection with these cards? a. $15,000b. $15,400c. $15,500d. $15,800