On March 2, Kwang Company sold $988,000 of merchandise to Sensat Company, terms 2/10, n/30. The cost of the merchandise sold was $604,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

On March 6, Sensat Company returned $98,800 of the merchandise purchased on March 2. The cost of the returned merchandise was $60,400. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

On March 12, Kwang Company received the balance due from Sensat Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Open calculator se 8-11 On January 10, 2015, Perez Co. sold merchandise on account to Robertsen Co. for $20,000, n/30. On February 9, Robertsen Co. gave Perez Co. a 11% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the account receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Debit Date Credit Jan. 10 Accounts Receivable 20,000 Sales Revenue 20,000 20,000 Accounts Receivable 20,000 Open calculator se 8-11 On January 10, 2015, Perez Co. sold merchandise on account to Robertsen Co. for $20,000, n/30. On February 9, Robertsen Co. gave Perez Co. a 11% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the account receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Debit Date Credit Jan. 10 Accounts Receivable 20,000 Sales Revenue 20,000 20,000 Accounts Receivable 20,000