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# Tutor profile: Mike P.

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Mike P.
Student Instructor for Accounting
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## Questions

### Subject:Basic Math

TutorMe
Question:

A company offers a 12 percent discount on purchases over \$500.00. Someone comes into the store and wants to buy \$842.00 worth of material how much is the customer discounted in dollars for this purchase?

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Mike P.

Take 842 and multiply it by .12, representing 12 percent, and the answer is: 101.04. This is the amount that the customer will be discounted.

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Question:

What are the four P's of marketing?

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Mike P.

Place, Product, Promotion, and Price

### Subject:Accounting

TutorMe
Question:

Beginning of the year balance of Accounts Receivable is: \$423,000 Total Credit Sales that were collected on during the year is: \$1,161,000 Ending of the year balance of Accounts Receivable is: \$222,000 What is the Total Credit Sales for the year (collected and uncollected)? What is the Accounts Receivable turnover rate?

Inactive
Mike P.

The total credit sales for the year is \$960,000. Solved like this: 423,000+X(Total Credit Sales)-222,000=1,161,000. Then solve for X. Accounts Receivable Turnover Rate=2.98 Solved like this: Take the net credit sales and divide it by the (Beginning AR balance+Ending AR Balance divided by 2).

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