X-mart uses the perpetual inventory system to account for its merchandise. on june 1, it sold $7,000 of merchandise for cash. the original cost of the merchandise to x-mart was $500. demonstrate the required journal entry to record the sale and the cost of the sale by selecting all of the correct actions below.

Cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely: cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely:

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.