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ACE Company sold goods worth $10,00 on credit to King Co. on April 5, 2019. King could return the goods within 10 days for full
ACE Company sold goods worth $10,00 on credit to King Co. on April 5, 2019. King could return the goods within 10 days for full credit but had to settle the account in 30 days. ACE estimated that an average of 10% of the goods might be returned. The goods cost $25 each and were sold for $50 each. On April 12, King returned 3% of the goods. ACE settled the account as required on May 4. Provide journal entries for ACE Co. for the following dates. April 5 Dr. Cr. Cr. Dr. April 12 April 16 Dr. Cr. Cr. Dr. May 4
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