Journalizing sales, sales returns and allowances, and cash receipts prepare journal entries for the following transactions. aug. 4 sold merchandise on account to s. miller for $320 plus sales tax of 4%, with 2/10, n/30 cash discount terms. 6 sold merchandise on account to k. krtek for $210 plus sales tax of 4%. 10 s. miller returned merchandise purchased on august 4 for $20 plus sales tax for credit. 13 s. miller paid the balance due on her account. 15 k. krtek returned merchandise purchased on august 6 for $40 plus sales tax for credit. 20 k. krtek paid the balance due on his account.

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?