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Exercise 5-64 Sales and Sales Returns and Allowances Rubin Enterprises had the following sales-related transactions on a recent day: a. Billed customer $27.500 on account
Exercise 5-64 Sales and Sales Returns and Allowances Rubin Enterprises had the following sales-related transactions on a recent day: a. Billed customer $27.500 on account for services already provided. b. Collected $5,875 in cash for services to be provided in the future. c. The customer complained about aspects of the services provided in Transaction aroma cam a good relationship with this customer, Rubin granted an allowance of $1,500 om list price. The customer had not yet paid for the services. d. Rubin provided the services for the customer in Transaction b. Additionally, Rubin grante an allowance of $350 because the services were provided after the promised date. Because the customer had already paid, Rubin paid the $350 allowance in cash. Required: 1. Prepare the necessary journal entry (or entries for each of these transactions
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