Supply club, inc., sells a variety of paper products, office supplies, and other products used by businesses and individual consumers. during july 2018 it started a loyalty program through which qualifying customers can accumulate points and redeem those points for discounts on future purchases. redemption of a loyalty point reduces the price of one dollar of future purchases by 20% (equal to 20 cents). customers do not earn additional loyalty points for purchases on which loyalty points are redeemed. based on past experience, supply club estimates a 60% probability that any point issued will be redeemed for the discount. during july 2018, the company records $216,000 of revenue and awards 200,000 loyalty points. the aggregate stand-alone selling price of the purchased products is $216,000. eighty percent of sales were cash sales, and the remainder were credit sales.
required:
1. prepare supply club’s journal entry to record july and august sales.
2. during august, customers redeem loyalty points on $96,000 of merchandise. seventy-five percent of those sales were for cash, and the remainder were credit sales. prepare supply club’s journal entry to record those sales. (do not round intermediate calculations. if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field.)

For many years, kellogg's frosted flakes, a ready-to-eat breakfast cereal, was perceived as a cereal for children. tony the tiger, a cartoon character, extolled frosted flakes, and advertisements depicted children enjoying the product with tony in competitive situations. recently, in response to declining sales of frosted flakes, the cereal maker has adopted a new series of advertisements that show adults admitting that they enjoy frosted flakes, too. kellogg's is attempting to

Florence invested in a factory requiring. federally-mandated reductions in carbon emissions. how will this impact florence as the factory's owner? a. her factory will be worth less once the upgrades are complete. b. her factory will likely be bought by the epa. c. florence will have to invest a large amount of capital to update the factory for little financial gain. d. florence will have to invest a large amount of capital to update the factory for a large financial gain.

Cardinal company is considering a project that would require a $2,725,000 investment in equipment with a useful life of five years. at the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. the company’s discount rate is 14%. the project would provide net operating income each year as follows: sales $2,867,000 variable expenses 1,125,000 contribution margin 1,742,000 fixed expenses: advertising, salaries, and other fixed out-of-pocket costs $706,000 depreciation 465,000 total fixed expenses 1,171,000 net operating income $571,000 1. which item(s) in the income statement shown above will not affect cash flows? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. any boxes left with a question mark will be automatically graded as incorrect.) (a)sales (b)variable expenses (c) advertising, salaries, and other fixed out-of-pocket costs expenses (d) depreciation expense 2. what are the project’s annual net cash inflows? 3.what is the present value of the project’s annual net cash inflows? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 4.what is the present value of the equipment’s salvage value at the end of five years? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 5.what is the project’s net present value? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.)