Business, 19.03.2020 21:01 klairecarregal6016

The following information was drawn from the 2016 accounting records of Ozark Merchandisers: 1. Inventory that had cost $21,200 was sold for $39,900 under terms 2/20, net/30. 2. Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,520. The merchandise had cost Ozark $920. 3. All customers paid their accounts within the discount period. 4. Selling and administrative expenses amounted to $4,200. 5. Interest expense paid amounted to $360. 6. Land that had cost $8,000 was sold for $9,250 cash. Determine the amount of net sales Prepare a multistep income statement. Where would the interest expense be shown on the statement of cash flows? a. Operating activitiesb. Investing activitiesc. Financing activities

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The following information was drawn from the 2016 accounting records of Ozark Merchandisers: 1. Inve...

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