You have just decided to add a new line to you manufacturing plant. compute the expected loss/profit from the addition if you estimate the following there is a 50% chance that profit will increase by $100,000 there is a 30% chance that profit will remain the same there is a 20% chance that profit will decrease by $15,000

On june 3, teal company sold to chester company merchandise having a sale price of $2,600 with terms of 2/10, n/60, f.o.b. shipping point. an invoice totaling $91, terms n/30, was received by chester on june 8 from john booth transport service for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare journal entries on the teal company books to record all the events noted above under each of the following bases. (1) sales and receivables are entered at gross selling price. (2) sales and receivables are entered at net of cash discounts.