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Burt Company sold inventory on account with credit terms 3/10, n/30 on March 2. The goods had a cost of $1,200 and a selling
Burt Company sold inventory on account with credit terms 3/10, n/30 on March 2. The goods had a cost of $1,200 and a selling price of $2,000. The company uses a perpetual inventory system. On March 7, the buyer returne merchandise with a cost of $180 and a $300 selling price because the goods were defective. Burt's entry on March 7 will include a. a debit to Sales Returns and Allowances for $300. O b. a debit to Inventory for $300. O c. a credit to Cash for $300. Od. a credit to Accounts Receivable for $180.
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