Jane's Jewelry sold

60

necklaces for

$30

each to a customer on account. The invoice included a

4%

sales tax and payment terms of

6/10,

n/30. Jane's Jewelry uses the perpetual inventory system, and each necklace cost $10. In addition,

5

necklaces were returned prior to payment. The entry to record the return would include: (Round your calculation to the nearest whole dollar.)

Question content area bottom

Part 1

A.

a debit to Sales Returns and Allowances for

$150.

B.

a debit to Sales Returns and Allowances for

$30.

C.

a credit to Sales Tax Payable for

$6.

D.

a debit to Accounts Receivable for

$30.