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On March 12, Klein Company sold merchandise in the amount of 57800 to Babson Company with credit terms of 2/10,n30. The cost of the Rems
On March 12, Klein Company sold merchandise in the amount of 57800 to Babson Company with credit terms of 2/10,n30. The cost of the Rems sold is $4,500 Klein uses the perpetua/inventory system and the gross method of accounting for sales on March 15, Babson returns some of the merchandise, which is not defective The selling price of the returned merchandise is $600 and the cost of the merchandise returned is $350 The ently or entries that Klein must make on March 15 i fare Moltiple Choice fo FO Sales returns and allowances Accounts receivable Merchandise inventory Cost of goods sold 350 350 35e Sales returns and allowances Account receivable 350 60e Sales returns and allowances Accounts receivable Gea D 60e Sales returns and allowances Accounts receivable Merchandise Inventory Cost of goods sold 350 35e 35e Sales returns and allowances Accounts receivable 35e 600 Sales returns and allowances Accounts receivable 600 680 Accounts receivable Sales returns and allowances 600 600 680 Accounts receivable Sales returns and allowances Cost of goods sold Merchandise inventory 35e 7 35e
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