During the month of june, rowling boutique had cash sales of$233,200 and credit sales of $153,700, both of which include the 6%sales tax that must be remitted to the state by july 15.

instructions

prepare the adjusting entry that should be recorded to fairlypresent the june 30 financial statements.

Neon light company of kansas city ships lamps and lighting appliances throughout the country. ms. neon has determined that through the establishment of local collection centers around the country, she can speed up the collection of payments by one and one-half days. furthermore, the cash management department of her bank has indicated to her that she can defer her payments on her accounts by one-half day without affecting suppliers. the bank has a remote disbursement center in florida. a. if neon light company has $2.90 million per day in collections and $1.18 million per day in disbursements, how many dollars will the cash management system free up?

Your take on decision making process

Why should managers invest any excess cash