A Company completed the following transactions in October: Sales Returns Date Amount Credit Sales Amount Terms $ 800 2/10, n/30 1,200 3/10, n/30 7,000 1/10, n/30 1,700 2/10, n/60 2,500 2/10, n/30 Date Oct 3 11 17 21 23 Date of Collection Oct 8 16 29 Oct 14 20 23 27 $ 500 1,200 400 500 27 28 The Company uses a perpetual inventory system. Required a) Calculate the cash received for each collection. Show your calculations. b) Prepare the journal entry for the Oct. 17 sale. The merchandise sold had a cost of $3,500 Oct. 23 sales return. The merchandise returned had a cost of $200 and was returned to inventory Oct. 28 collection