Customer return and refund On December 28, 20Y3, Silverman Enterprises sold $18,500 of merchandise to Beasley Co. with terms 2/10, n/30. The cost of the goods sold was $11,300. On December 31, 20Y3, Silverman prepared its adjusting entries, yearly financial statements, and closing entries. On January 3, 20Y4, Silverman Enterprises issued Beasley Co. a credit memo for returned merchandise. The invoice amount of the returned merchandise was $4,500 and the merchandise originally cost Silverman Enterprises $2,400.

a. Journalize the entries by Silverman Enterprises to record the December 28, 20Y3, sale. If an amount box does not require an entry, leave it blank.

b. Journalize the entries by Silverman Enterprises to record the merchandise returned by Beasley Co. on January 3, 20Y4. If an amount box does not require an entry, leave it blank.

c. Journalize the entry to record the receipt of the amount due by Beasley Co. on January 7, 20Y4. If an amount box does not require an entry, leave it blank.

Customer return and refund On December 28, 20Y3, Silverman Enterprises sold $18,500 of merchandise to Beasley Co. with terms 2/10, n/30. The cost of the goods sold was $11,300. On December 31, 20Y3, 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 $4,500 and the merchandise originally cost Silverman Enterprises $2,400. a. Journalize the entries by Silverman Enterprises to record the December 28, 20Y3, sale. If an amount box does not require an entry, leave it blank. 20Y3 Dec. Accounts Receivable-Beasley Co. 28 Sales 20Y3 Dec. Cost of Goods Sold 28 Inventory 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. Customer Refunds Payable Accounts Receivable-Beasley Co. 2014 Jan. Inventory Estimated Returns Inventory c. Journalize the entry to record the receipt of the amount due by Beasley Co. on January 7, 20Y4. If an amount box does not require an entry, leave it blank. 2014 Jan. Cash Accounts Receivable-Beasley Co