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Jane's Jewelry sold 70 necklaces for $ 40 each to a credit customer. The invoice included a 77% sales tax and payment terms of 77/10,
Jane's Jewelry sold
70
necklaces for
$ 40
each to a credit customer. The invoice included a
77%
sales tax and payment terms of
77/10,
n/30. In addition,
10
necklaces were returned prior to payment. The entry to record the return would include: (Round your calculation to the nearest whole dollar.)
A.a debit to Sales Returns and Allowances for
$ 400.
B.a debit to Accounts Receivable for
$ 280.
C.a credit to Sales Tax Payable for
$ 28.
D.a debit to Sales Returns and Allowances for
$ 280.
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