On 10th January, Candymart made a sale for $3,600 that had a cost of $2,800. Assume the customer returns part of the merchandise. The returned beres sel for $200 and cost sa Wich journal entry best reflects the returns transaction below? O Dr Sales Returns and lowances $50 CrAccounts Receivable 550 Dr Merchandine Inventory 5200 CrCost of Goods Sold 5200 O Dr Merchandise Inventory 550 Cr.Cost of Goods Sold 550 Dr Sales Returns and Aliowances 5200 CrAccounts Receivable 5200 Dr Merchandise Inventory $50 Cr Cost of Goods Sold 350 Dr Sales Returns and Allowances $200 Cr Accounts Receivable $200 Question 1 of 11 4. Moving to another question will see this response Close Window