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On December 28, Silverman Enterprises sold $18,500 of merchandise to 1, Silverman prepared its adjusting entries, yearly financial statements, and closing entries On January 3, Silverman issued Beasley a credit memo for returned merchandise. The returned merchandise originalily cost Silverman $2,350 and was billed (invoiced) for $4,000 with terms 2/10, n/30. Beasley Co. with terms 2/10, n/30. The cost of the goods sold was $11,200. On December A-Joumalize the entries by Silverman Enterprises to record the December 28 sale. Beasley paid the balance due on January 7 B. Journalize the entries by Siverman Enterprises to recond the merchandise returned January 3. Journalize the entries by Silverman Enterprises to record the merchandise returned January 3. B. C. Journalize the entry to record the receipt of the amount due by Beasley Co. on January 7. Refer to the Chart of Accounts for exact wording of account titles
A. Journalize the entries by Silverman Enterprises to record the December 28 sale. Beasley paid the balance due on January 7.*
B. Journalize the entries by Silverman Enterprises to record the merchandise returned January 3.*
C. Journalize the entries to record the receipt of the amount due by Beasley Co. on January 7.* *Refer to the Chart of Accounts for exact wording of account titles.
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A. Record the journal entries for sale on December 28 General Journal Post DateAccount title and explanationRef. Debit (S) Credit (S) 28-Jan Accounts receivable B Co S 18,130 Sales [$18.500-(2% of $18.500 To record sales made on account) S 18,130 28-Jan Cost of goods sold S11,200 Invent S 11,200 To recored cost of goods sold) Record the journal entries for merchandise inventory returned on January 3 General Journal Post DateAccount title and explanationRef. Debit (S) Credit (S) 03-Jan Customer refunds le S 3,920 Accounts receivable $4.000-(2% of $4.00 S 3,920 (lo record return of merchandise inventoy sold on account 03-Jan Invent S 2,350 Estimated return invent S 2,350 To record cost of merchandise inventony returne

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