can you answer thus question please?
The First-Year Co... A Macmillan: Americ eBook Customer return and refund On December 28, 20Y3, Silverman Enterprises sold $18,500 of merchandise to Beasley Co. with terms 2/10, 1/30. The cost of the goods sold was $11,200. On December 31, 2023, Silverman prepared its adjusting entries, yearly financial statements, and closing entries. On January 3, 2014, Silverman Enterprises issued Beasley Co. a credit memo for returned merchandise. The invoice amount of the returned merchandise was $4,000 and the merchandise originally cost Silverman Enterprises $2.350. a. Journalize the entries by Silverman Enterprises to record the December 28, 2013 sale, using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it blank. 2013 Dec. 28 Accounts Receivable-Beasley Co. 18.500X Sales 18.500 X 2013 Dec. 28 Cost of Goods Sold 11.2007 Inventory 11.200 Fedha Check My Work Record the credit sale as well as the cost of the merchandise sold. b. Journalize the entries by Silverman Enterprises to record the merchandise returned by Beasley Co. on January 3, 2014. If an amount box does not require an entry. leave it blank. 2014 Jan. 3 Customer Refunds Payable 4.500 X Check My Work Email Instructor Save and Submit Assignment for Grading All work saved Show A Check My Work Record the credit sale as well as the cost of the merchandise sold. b. Journalize the entries by Silverman Enterprises to record the merchandise returned by Beasley Co. on January 3, 2014, 1 an amount box does not require an entry leave it blank. 2014 Jan. 3 Customer Refunds Payable Accounts Receivable-Beasley Co. 4,500 X 4.500 x 2,350 2014 Jan. 3 Inventory Estimated Returns Inventory 2.350 Feedback Check My Work To record a customer refund, a liability account to estimate refunds that will be paid to customers is used. Depending on whether the customer has paid for the merchandise, a cash refund or credit memo will be issued. C. Journalize the entry to record the receipt of the amount due by Beasley Co. on January 7, 2074. If an amount box does not require an entry, teave 100 Cash 2014 Jan. 7 COOX Accounts Receivable-Beasley Co. Previous Next Check My Work Som Assignment for Grading All work saved individual paper docx Estimated Returns Inventory 2.150 Feedback Check My Work To record a customer refund, a liability account to estimate refunds that will be paid to customers is used. Depending on whether the customer has paid for merchandise, a cash refund or credit memo will be issued. E. Journalize the entry to record the receipt of the amount due by Beasley Co. on January 7, 2014. If an amount box does not require an entry, leave it blank 2014 Jan. 7 Cash Accounts Receivable-Beasley Co. 14,210 14.500 X Feedback Check My Work To record returned Inventory, a current asset account for the estimated amount of merchandise that will be returned by customised
