eBook Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $254,500, terms n/30. The cost of the goods sold is $152,700. Showcase Co. issues a credit memo for $30,000 for merchandise returned prior to Balboa Co. paying the original invoice. The cost of the merchandise returned is $17,500. a. Journalize Showcase Co.'s entries for (1) the sale, including (2) the cost of the goods sold. If an amount box does not require an entry, leave it blank. (1) Accounts Receivable-Balboa Co. Sales (2) Cost of Goods Sold Inventory (1) Customer Refunds Payable (2) Inventory V Cash Accounts Receivable-Balboa Co. V Estimated Returns Inventory Check My Work Show Me How b. Journalize Showcase Co.'s entries for (1) the credit memo, including (2) the cost of the returned merchandise. If an amount box does not require an entry, leave it blank. V Accounts Receivable Balboa Co. V V 254,500 152,700 17,500 30,000 254,500 TELI 152,700 c. Journalize Showcase Co.'s entry for the receipt of the check for the amount due from Balboa Co. If an amount box does not require an entry, leave it blank. 30,000 17,500 X All work saved Email Instruct Previous Next >

(x) (1) (2) lavetor:- 1750 Cedrevent