a company sells merchandise for 1,000 on side with lingo 2/10 net /30. Defective merchandise of $200 is returned 2 days subsequently. Which of the following entries would be made to record the change

---

Answers:   For the sale:
Accounts Receivable 1,000 DR
Revenue 1,000 CR

For the return:
Sales returns/allowances 200 DR - contra revenue vindication
Accounts Receivable 200 CR

The discount of 2/10 net 30 doesn't come into play until they in reality make the donation. At which point, if they pay contained by 10 days, you apply a discount:
Cash 784 DR
Discounts 16 DR
Accounts receivable 800 CR
(The 800 is the new total after returning $200 surrounded by goods.)

DR = Debit
CR = Credit
More question :

• Want wholesale t shirts for fund raiser? Does anyone know of an place I can purchase t shirts in
• Is near someplace on the pattern that I can dig out for registered trade grades? I'm planning on starting a business and want to check out
• I entail to write a cold-call sale message to a potential customer, I want a fitting gap any suggestions?
• Algebra query? I really need backing with this equation. The answer requirements to
• What should I do to unambiguous a business in my small town? I want to instigate a wine store. I own decades of experience