bThe merchandise returned on October 23 had a cost of $200 and was returned to inventory. The journal entry for the return on October 23 is

c)The journal entry for collection on October 28 is

Telfer Inc. is family owned firm headquartered in Ottawa, Ontario. The company sells its products to customers in Ontario and Quebec, and completed the following transactions in October, 2015: Sales Returns Date Amount Credit Sales Date Amount Oct 3 $ 800 11 1,200 17 7,000 21 1,700 23 2,500 Terms 2/10, n/30 3/10, n/30 1/10, n/30 2/10, n/60 2/10, n/30 Oct 14 20 23 27 $ 500 1,200 400 500 Date of Collection Oct 8 16 29 27 28 Telfer Inc. uses a perpetual inventory system. The cash received for the collection on October 16 is