Question

Can I get help in getting the debit and credit values for part b and c please. thank you

eBook Calculator Customer return and refund On December 28, 2013, Silverman Enterprises sold $19,500 of merchandise to Beasley Co. with terms 2/10, 1/30. The cost of the goods sold was $10,800. On December 31, 2013, Silverman prepared its adjusting entries, yearly financial statements, and dosing entries. On January 3, 204, Silverman Enterprises issued Beasley Co, a credit memo for returned merchandise. The invoice amount of the returned merchandise was $3,800 and the merchandise originally cost Silverman Enterprises $2,250. a. Journalize the entries by Silverman Enterprises to record the December 28, 2013 sale, using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it blank. 2043 Dec. 28 Accounts Receivable-Beasley Co. 19.110 Sales 19.110 20Y3 Dec. 28 Cost of Goods Sold 10.800 Inventory 10.800 Record the credt sale as well as the cost of the merchandise sold. amount box does not b. Journalize the entries by Silverman Enterprises to record the merchandise returned by Beasley Co. on January require an entry, leave it blank 2074 ) Customer Refunds Payable Check My Work Previous Next

Answer 1

b)

20y4.jan 3. customer refund payable : 3724

   accounts receivable- beasly.co:3724( 3800-3800*2%)

20y4 jan 3:inventory :2250

   estimated returns inventory: 2250

c)

20y4 jan 3:cash: 15386

accounts receivable- Beasley.com:15386( 19110-3724)