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On March 2, ABC sold $9,500 of merchandise on account, terms 2/10,n/30 to XYZ. The goods cost $3,100. XYZ returned $900 worth of goods
On March 2, ABC sold $9,500 of merchandise on account, terms 2/10,n/30 to XYZ. The goods cost $3,100. XYZ returned $900 worth of goods on March 5. The goods cost $360. Select the option that best represents the return on March 5. Account Accounts Receivable DR CR Hu 900 Option A Sales Revenue Cost of Goods Sold 900 360 Inventory 360 Account DR CR Sales Returns 900 Option B Inventory Cost of Goods Sold 900 360 Sales Revenue 360 R Account DR CR Sales Revenue 900 Option C Accounts Receivable Inventory 900 360 Cost of Goods Sold 360 Account DR CR Sales Returns 900 Option D Accounts Receivable 900 Inventory 360 Cost of Goods Sold 360 Option E None of the Above O Option A
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