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answer asap please Karen Barber Company sold merchandise in the amount of $16,000 (cost: $11,000) to Phillip Shop Company on March 5, with credit terms
answer asap please
Karen Barber Company sold merchandise in the amount of $16,000 (cost: $11,000) to Phillip Shop Company on March 5, with credit terms of 1/10, n/30. On March 14, Phillip Shop Company returned $2,000 merchandise to Karen Barber (original cost: $1,200). If Karen Barber Company uses the perpetual inventory method, the entries made by Karen Barber Company on March 14 will include a: Select one: a. Credit to Cost of Goods Sold for $1,200 b. Credit to Sales Returns and Allowances for $2,000 c. Debit to Inventory for $2,000 Od. Debit to Accounts Receivable for $2,000 Step by Step Solution
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