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Pina Supply Company sells merchandise on account for $2200 to Wildhorse Retail Company with credit terms of 2/12,n/30. Wildhorse Retail Company returns $500 of merchandise
Pina Supply Company sells merchandise on account for $2200 to Wildhorse Retail Company with credit terms of 2/12,n/30. Wildhorse Retail Company returns $500 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Pina Supply Company make upon receipt of the check? Cash Sales Returnsand Allowances Sales Discounts Accounts Receivable 1666 500 34 2200 Cash 1700
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