On March 12, Klein Company sold merchandise in the amount of $8.200 to Babson Company, with credit terms of 2/10. n/30. Th method of accounting for sales. On March 15, Babson returns some of the merchandise, which is not defective. The selling price The entry or entries that Klein must make on March 15 is (are): Multiple Choice Accounts receivable Sales returns and allowance! 6.48 Sales returns and allowances Accounts receivable 627 Sales returns and allowances Accounts receivable Merchandise inventory Cost of goods sold 370 Accounts receivable Sales returns and allowances cost of goods sold Merchandise inventory 640 370 On March 12, Klein Company sold merchandise in the amount of $8.200 to Babson Company, with credit terms of 2/10. n/30. Th method of accounting for sales. On March 15, Babson returns some of the merchandise, which is not defective. The selling price The entry or entries that Klein must make on March 15 is (are): Multiple Choice Accounts receivable Sales returns and allowance 640 Sales returns and allowances Accounts receivable 37e 627 Sales returns and allowances Accounts receivable Merchandise inventory Cost of goods sold 370 Accounts receivable Sales returns and allowances cost of goods sold Merchandise inventory 64 37e On March 12, Klein Company sold merchandise in the amount of $9,000 to Babson Company, with credit term method of accounting for sales. On March 15. Babson returns some of the merchandise, which is not defective The entry or entries that Klein must make on March 15 is (are): Multiple Choice 720 Accounts receivable Sales returns and allowances Cost of goods sold Merchandise inventory 410 Sales returns and allowances Accounts receivable Merchandise inventory Cost of goods sold 699 Sales returns and allowances Accounts receivable Hit terms of 2/10. n/30. The cost of the items sold is $4,700. Klein uses the perpetual inventory system and the net efective. The selling price of the returned merchandise is $640 and the cost of the merchandise returned is $370 Accounts receivable Sales returns and allowances 640 O Sales returns and allowances Accounts receivable Sales 627 Sales returns and allowances Accounts receivable Merchandise inventory Cost of goods sold 1627 370 Accounts receivable Sales returns and allowances Cost of goods sold Merchandise inventory Sales returns and allowances Accounts receivable Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Con Gideon makes to record the write off of the account on May 3 is: Multiple Choice Cash 4,108 Accounts Receivable-A. Hopkins 4, 10e 4.1ee Allowance for Doubtful ACCO Bad debts expense 4,100 O Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts 4. lae Allowance for Doubtful Accounts Accounts Receivable-A. Hopkins accounts. On May 3, the Gideon Company wrote off the $4,100 uncollectible account of its customer, A. Hopkins. The 4 10e 4,100 4.100 4,1ee 4,100 Cash Accounts Receivable A. Hopkins 4,100 O 4,1ee Allowance for Doubtful Accounts Bad debts expense 4,100 4,100 ,100 Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts 4,100 O Allowance for Doubtful Accounts Accounts Receivable-A. Hopkins Allowed 4,100 4,100 4,100 Accounts Receivable-A. Hopkins Bad debts expense Cash Accounts Receivable-A. Hopkins 4,1eel