Assume you are the bookkeeper for Vivien's Wholesalers, a distributor of kitchen furniture. Your sales manager informed you that Ted's Retailers is unhappy with the quality of some tables delivered on March $6,2022,$ and will be shipping back all the goods. The original invoice amounted to $$3,000$ and the goods cost Vivien's $$1,100.$ Using a perpetual inventory system, complete the journal entries for Vivien's Wholesalers for each of the following independent scenarios.

Do not enter dollar signs or commas in the input boxes.

Round all answers to $2$ decimal places.

Enter debit accounts in alphabetical order.

Required

a$)$ Rather than taking back the tables, your sales manager agreed to allow Ted's Retailers a $5\%$ discount if it agrees to keep the goods. Record Ted's payment in settlement of the invoice on April $6$ assuming the allowance is not recorded until the settlement date.

Date Account Title and Explanation Debit Credit

$2022$

Apr $6$ Answer

Cash

Answer

$2850$

Answer

Sales Returns and Allowances

Answer

$150$

Answer

Accounts Receivable

Answer

$3000$

Collected outstanding accounts receivable

b$)$ Suppose that Ted's shipped back all of the goods on March $18$ and the inventory was put back on the sales floor. Journalize the transactions. Record the sales return transaction first.

Date Account Title and Explanation Debit Credit

$2022$

Mar $18$ Answer

Sales Returns and Allowances

Answer

$3000$

Answer

Accounts Receivable

Answer

$3000$

Record sales returns

Mar $18$ Answer

Merchandise Inventory

Answer

$1100$

Answer

Cost of Goods Sold

Answer

$1100$

Restock inventory

c$)$ Suppose that Ted's shipped back half of the goods on March $18$ and kept the other half with a $10\%$ allowance. Journalize the transactions. Record the sales return transaction first.

Date Account Title and Explanation Debit Credit

$2022$

Mar $18$ Answer

Sales Returns and Allowances

Answer

$1500$

Answer

Accounts Receivable

Answer

Record sales returns

Mar $18$ Answer

Merchandise Inventory

Answer

$550$

Answer

Cost of Goods Sold

Answer

$550$

Restock inventory