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On December 28, Silverman Enterprises sold exist18, 500 of merchandise to Beasley Co. with terms 2/10, n/30. The cost of the goods sold was exist11,

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On December 28, Silverman Enterprises sold exist18, 500 of merchandise to Beasley Co. with terms 2/10, n/30. The cost of the goods sold was exist11, 200. On December 13, Silverman prepared its adjusting entries, yearly financial statements, and closing entries. On January 3, Silverman issued Beasley a credit memo for returned merchandise. The returned merchandise originally cost Silverman exist2, 350 and was billed (invoiced) for exist4,000 with terms 2/10, n/30. A. Journalize the entries by Silverman Enterprises to record the December 28 sale. Beasley paid the balance due on January 7.* B. Journalize the entries by Silverman Enterprises to record the merchandise returned January 3.* C. Journalize the entries to record the receipt of the amount due by Beasley Co. on January 7.* *Refer to the Chart of Accounts for exact wording of account titles

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