11. Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms of 1/10, 30. Helix Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. Whatentry does Baker Company make upon receipt of the check? 4,400 4.400 Accounts Receivable Cash Sales Returns and Allowances Accounts Receivable 4,356 600 44 5,000 d Sales Returns and Allowances. Sales Discounts. Accounts Receivable...... Cash .................. Sales Discounts....................... Sales Returns and Allowances Accounts Receivable... 4,950 600 4.400 12.The journal entry to record a return of merchandise purchased on account under a perpetual inventory system would credit a Accounts Payable. b. Purchase Returns and Allowances. c. Sales Revenue. d. Inventory 13. The following information was available for Paul Company at December 31, 2020: beginning inventory 590,000, ending inventory S70,000; cost of goods sold $968,000, and sales $1,360,000. Paul's inventory turnover in 2020 was a. 10.8 times. b. 12.1 times. c. 13.8 times. d. 17.0 times. 21 14. P. Didee has the following inventory information. July 1 Beginning Inventory 20 units at $90 5 Purchases 120 units at $92 Sale 90 units Purchases 60 units at $95 30 Sale 58 units Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis? a $4,744 b. $5,860 c. $4,940 d. $6,346