Question 23 View Policies Current Attempt in Progress Novak Corp.sells merchandise on account for $3500 to with credit terms of 2/14.n/30. Kingbird, Inc. returns $1000 of merchandise that damaged, along with a check to settle the account within the discount period. What entry does Novak Corp. make upon receipt of the check 2500 Cash Accounts Receivable 2500 2450 Cash Sales Returns and Allowances Accounts Receivable 1050 3500 Cash 2450 1000 Sales Returns and Allowances Sales Discounts Accounts Receivable 50 3500 3430 70 Cash Sales Discounts Sales Returns and Allowances Accounts Receivable 1000 2500