CP6-3 Recording Cash Sales, Credit Sales, Sales Discounts, Sales Returns, a 6-4, LO 6-5 The following information applies to the questions displayed below Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $160,230). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for $292,600 cash refund (original cost of merchandise $920). C. Sold merchandise (costing $12,600) to a customer on account with terms 2/10, n/30 d. Collected half of the balance owed by the customer in (c)within the discount pe e. Granted a partial allowance relating to credit sales that the customer in (c)had not yet paid 1,720 28,000 13,720 1,960 riod. References Type here to search 4 8 6