Merchandise costing $2,300 is sold for $3,300 on terms 2/10, n/30. if the buyer pays within the discount period, prepare the journal entries needed at the time of sale and collection, assuming the company uses a perpetual inventory system. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)a) record the sales on account of $3,300 on terms 2/10, n/30.b) record the cost of goods sold of $2,300.c) record during the discount period the payment in full for the sales on account.

12. nelson corporation, which has only one product, has provided the following data concerning its most recent month of operations: selling price $ 115 units in beginning inventory 380 units produced 5,900 units sold 6,070 units in ending inventory 210 variable costs per unit: direct materials $ 46 direct labor $ 27 variable manufacturing overhead $ 3 variable selling and administrative $ 12 fixed costs: fixed manufacturing overhead $ 112,100 fixed selling and administrative $ 36,420 the company produces the same number of units every month, although the sales in units vary from month to month. the company's variable costs per unit and total fixed costs have been constant from month to month. a. prepare a contribution format income statement for the month using variable costing. unit product cost under variable costing direct materials direct labor variable manufacturing overhead variable costing unit product cost (formula)

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Ursus, inc., is considering a project that would have a five-year life and would require a $1,650,000 investment in equipment. at the end of five years, the project would terminate and the equipment would have no salvage value. the project would provide net operating income each year as follows (ignore income taxes.):