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On September 12, Vander Company told merchandise in the amount of $4,400 to Jepson Company, with credit terms of 2/10, 1/30. The cost of the

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On September 12, Vander Company told merchandise in the amount of $4,400 to Jepson Company, with credit terms of 2/10, 1/30. The cost of the items sold is $3,035. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jepson returns some of the merchandise. The selling price of the merchandise is $380 and the cost of the merchandise returned is $265. Jepson pays the invoice on September 18, and takes the appropriate discount. The Journal entry that Vander makes on September 18 is: Multiple Choice Credit Account Title Cash Sales Discounts Accounts Receivable Debit 3.939.60 80.40 4,020.00 Credit Account Title Cash Necounts Receivable bebit 3,035.00 3.035.00 Credit Account Title Canh Sales Discounts Accounts Receivable Debit 4.319.60 0.40 4,400.00 10 PM 0 Saved Credit Account Title Cash Sales Discounts Accounts Receivable Debit 3,939.60 80.40 4,020.00 O Credit Account Title Cash Accounts Receivable Debit 3,035.00 3,035.00 Account Title Credit Cash Sales Discounts Accounts Receivable Debit 4,319.60 80.40 4,400.00 Credit Account Title Cash Accounts Receivable Debit 4,400.00 4,400.00 Account Title Cash Accounts Receivable Debit 4,319.60 Credit 4,319.60

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