Journal entries to be prepared for A, B and Conlya. Sold merchandise for cash (cost of merchandise $28,797).b. Received merchandise returned by customers as unsatisfactory (but in perfect condition)for cash refund (original cost of merchandise $220).c. Sold merchandise (costing $4,75e) to a customer on account with terms n/60.d. Collected half of the balance owed by the customer in (c).e. Granted a partial alllowance relating to credit sales the customer in (c) had not yetpaid.f. Anticipate further returns of merchandise (costing $140) after year-end from sales madeduring the year.$ 51, 20025010,0005,000160350

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a. Sold merchandise for cash (cost of merchandise $28, 797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $220). c. Sold merchandise (costing $4, 750) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granteda partial allowance relating to credit sales the customer in (c) had not yet $ 51, 200 250 10, 000 5,000 naid

a. Sold merchandise for cash (cost of merchandise $28, 797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $220). c. Sold merchandise (costing $4, 750) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granteda partial allowance relating to credit sales the customer in (c) had not yet $ 51, 200 250 10, 000 5,000 naid

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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