QUESTION 30 Forever Jewelers uses the perpetual inventory wytem. On Apr 2. Forever sold merchandise with a cost of $4.500 for $6.900 to a customer on count with term of 2015, wo Which of following ournal entries correctly records the sales revenus? Sales Reven 4.500 o Cost of Goods Sold 4.500 6.723 Sales Reverso Accounts Receivable 6.723 6.723 counts Receivable Sales Revenue 6,723 BO Accounts Receivable Sales Revenue 8.800 QUESTION 37 A company purchased inventory for $2.500 from a vender on account, FOB shipping point, with arms of 210. The company paid the per 52 cash for rent in. The company then stumed damaged goods worth $400. The nice was then paid eight days after the invoice teasuring that there was no beginning inventory on the cost of inventory would be system) me a perpetual inventory 12.058 52.450 $2.00 52.258 QUESTION 3 For the year ended December 31, 2019, Davidson Mart had sales of $800.000 and cost of goods sold of $500.000. Davidson estimates that approximately 2% of the merchandise sold will be returned. The adjusting Journal entry on December 31, 2019, would be: Sales Revenue 16,000 Refunds Payable 16.000 10.000 10 000 Estimated Returns inventory Cost of Goods Sold Accounts Receivable Sales Revenue 16.000 10.000 10.000 10.000 al Revenue Cost of Goods Sold Sales Revenue Merchandise Inventory 800.000 800.000 500.000 Estimated Returns inventory Rolunds Payable 500.000 16.000 Sales Returns and Allowances Cost of Goods Sold 10.000 16.000 Merchandise inventory Accounts Receivable 10.000