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Melange Company's perpetual eventory records show a balance in the inventory account of $5.850 at December 31. Aphysical count of the inventory indicates that the
Melange Company's perpetual eventory records show a balance in the inventory account of $5.850 at December 31. Aphysical count of the inventory indicates that the actual on hand amount at December 31 $3.500. The entry in Melange's accounting wstem would Include Credit to Cost of Goods Sold for $2.350 No dument to enterleded. The inventory balance correct because the perpetual intory tracking stem is being used Obit to inventory for $2350 Debit to Cost of Goods Sold for $22350 Question 20 3 pts A debit to Sales Returns and Allowances and a credit to Accounts Receivable Recognizes tutostomer returned interchandise and/or accepted tistotary product for a reduction in the amount and for the inventory Records the cost side of a star recorded when tomartes advance of a count Reflectors in the mount from me Question 21 3 pts Jasper Company purchased merchandise for $3,500 with terms 3/15, net 45 Jasper Company as the invoice on the seventeenth day after the invoice date the cash account will be MacBook Air A 2 $ 4 3 5 6 & 7 B w E R T Y U O A S D F G . K L N X . 5 C V B B N M
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