- i More Info o May 1 May 3 Mike sold $29.000 of men's sportswear for cash. Cost of goods sold is $20,000. Mike sold $60,000 of women's sportswear on account, credit terms are 2/10, n/45. Cost of goods is $27.000 Mike received a $4.000 sales return on damaged goods from the customer on May 1 Cost of goods damaged is $2.000 Mike receives payment from the customer on the amount due, less discount May 5 May 10 Print Done May 10: Mike receives payment from the customer on the amount due, less discount. Date Accounts Debit Credit May 10 Cash Accounts Receivable