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Question 1 of6 Sept. 12 v Accounts Receivable 750 Sales Revenue 750 To record sale of calculators on account) Sept 14 v Sales Returns and Allowances 45 Accounts Receivabld 45 To record cost of calculators sold) No Entry 710 No Entry 710 (To record return of calculator that was not ordered) Accounts Receivable Sales Revenue (To record cost of calculators returned) Cost of Goods Sold Inventory (To record sale of calculators on account) No Entry No Entry (To record cost of calculators sold) eTextbook and Media List of Accounts Sales Revenue (To record credit sales) Cost of Goods Sold Sales Returns and Allowai Accounts Receivabl (To record credit granted for returned goods) Cost of Goods Sold Accounts Receivable sales Revenue (To record sales.) d_HW 5_Question 5-2 ents to earn a free unlock. Ii Helpful F Unhelpful I:|I: _: [:1: luli :1: _: l:ll: - Our tutors were helpfui iast ti another question! You can ask 6 quest Question 1 of6 3 / 5 '== View Policies Show Attempt History Current Attempt in Progress I Your answer is partially correct. Assume that on September 1, Ofce Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. Du ring September, these transactions occurred. Sept. 6 Purchased calculators from Sheridan Co. at a total cost of $1,730, terms n/30. 9 Paid freight of $60 on calculators purchased from Sheridan Co. 10 Returned calculators to Sheridan Co.for $55 credit because they did not meet specications. 12 Sold calculators costing $570 for $750 to Fryer Book Store, terms n/30. 14 Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $34. 20 Sold calculators costing $540 for $710 to Heasley Card Shop, terms n/30. Jour nal ize the September transactions. {if no entry is required, select \"No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Assume the marketing department has presented a plan to increase advertising expenses by $340 mil lion. It expects this plan to result in an increase in both net sales and cost of goods sold of 30%. (Hint: Increase both sales revenue and sales returns and allowances by 30%.) Redo parts {a} and (b) and discuss whether this plan has merit. {Assume a tax rate of 34%. and round all amounts to whole dollars.) Prepare a multiplestep income stateme nt. (Roundanmers to 0 decimal places. es. 15,222.) The Clorox Company Income Statement For the Month Ended June 30, 2022 V (amounts in mill ions) Sales v Sales Revenues V $ Sales Returns and Allowances Dividends Net Income I (Loss) Retained Earnings, Julyr 1I 2008 Retained Earnings, June 30, 2009 Sales Revenues Total Revenues Net Sales Gross Profit Operating Expenses Total Operating Expenses Income Before Income Taxes Other Revenues and Gains Other Expenses and Losses Income From Operations Sales (c1) Assume the marketing department has presented a plan to increase advertising expenses by $340 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 30%. (Hint: Increase both sales revenue and sales returns and allowances by 30%.) Redo parts (a) and (b) and discuss whether this plan has merit. (Assume a tax rate of 34%, and round all amounts to whole dollars.) Prepare a multiple-step income statement. {Round answers to Odecimal places, es. 15,222.) The Clorox Company Income Statement For the Month Ended June 30, 2022 v (amounts in millions)