Jackson's Clothing Store has provided the following details: PLEASE ANSWER ALL FOUR

Jackson's Clothing Store has provided the following details: Jan. 10 Jan. 11 Jan. 15 Jan. 16 Jan. 20 Inventory purchased on account Freight in Purchase returns Allowances from vendor Payment made to vendor for purchases on Jan. 10 $700,000 8,000 25,000 3,000 ? Credit terms are: 3/15, n/45, FOB shipping point. Calculate the net cost of inventory purchased assuming that there are no other inventory-related transactions during the month. Assume that the perpetual inventory system is used. A. $662,750 B. $659,840 C. $659,600 D. $659,000 A company sold merchandise with a cost of $500 for $2,000 on account. The seller uses the perpetual inventory system. The entry to record the sale at the retail sales price is A. a debit to Cash and a credit to Merchandise for $500 O B. a debit to Cost of Goods Sold and a credit to Merchandise Inventory for $500 C. a debit to Accounts Receivable and a credit to Sales Revenue for $2,000 D. a debit to Sales Revenue and a credit to Cash for $2,000 ABC Company had sales of $130,000 for the year with cost of goods sold of $52,000. ABC estimates that approximately 9% of the merchandise sold will be returned. The adjusting journal entries to record the estimated returns, using the perpetual inventory system would be: 4,680 A. Sales Revenue Refunds Payable 4,680 11,700 Estimated Returns Inventory Cost of Goods Sold 11,700 4,680 B. Sales Revenue Refunds Payable 4,680 11,700 Estimated Returns Inventory Merchandise Inventory 11,700 11,700 C. Sales Revenue Refunds Payable 11,700 4,680 Estimated Returns Inventory Cost of Goods Sold 4,680 11,700 D. Cash Refunds Payable 11,700 4,680 Estimated Returns Inventory Merchandise Inventory 4,680 Advanced Computer Parts uses the perpetual inventory system. On May 5, Advanced sold merchandise with a cost of $1,500 for $3,500 to a customer on account with terms of 4/10, n/30. Which of the following journal entries correctly records the payment received from the customer on May 11? O A. Cash Sales Discounts Forfeited Accounts Receivable 3,360 140 3,500 2,000 O B. Cash Accounts Receivable 2,000 3,360 OC. Cash Accounts Receivable 3,360 3,500 OD. Cash Accounts Receivable Sales Discounts Forfeited 3,360 140