Missouri Company uses a perpetual inventory system. On October 1 , Missouri Company sold inventory on account in the amount of $6,500 to Montebello Company, terms 1/10,n/30. The items cost Missouri $4,200. On October 4 , Montebello returns some of the inventory. This inventory had a selling price of $500 and a cost of $200. On October 8 , Montebello Company paid Missouri Company the amount due on that date. What is the amount of cash received by Missouri Company on October 8 for the receipt of payment from Montebello? Multiple Choice $6,500 $5,940 $6,435 $6,300 Missouri Company uses a perpetual inventory system. On October 1 , Missouri Company sold inventory on account in the amount of $6,500 to Montebello Company, terms 1/10,n/30. The items cost Missouri $4,200. On October 4 , Montebello returns some of the inventory. This inventory had a selling price of $500 and a cost of $200. On October 8 , Montebello Company paid Missouri Company the amount due on that date. What journal entry (entries) will Missouri Company make on October 4 to record the sales return? Multiple Choice Debit Sales Returns and Allowances and credit Accounts Receivable for $500; debit Inventory and credit Cost of Goods Sold for $200. Debit Sales Returns and Allowances for $200 and credit Accounts Receivable for $200. Debit Sales Returns and Allowances for $500 and credit Inventory for $500. Debit Accounts Receivable and credit Sales Revenue for $500; debit Cost of Goods Sold and credit Inventory for $200