1. A restaurant purchased $7500 of food inventory on credit with terms of 3/5, net 30. Calculate the cash discount and determine if the discount should or should not be taken and discuss your decision.
2. The sales revenue information for March and April, Year 2007 is listed in the table below. What is the vertical common-sized analysis (percentages) of each item based on the sales revenue. Please discuss any significant findings.
|
Item
|
March
|
April
|
|
Sales Revenue
|
$48,200
|
$50,400
|
|
Cash Sales
|
$14,460
|
$14,112
|
|
Credit Card Sales
|
$31,330
|
$34,272
|
|
Account Receivable Sales
|
$2,410
|
$2,016
|