QUESTION 4 On October 1. Darin Company sold merchandise in the amount of $6,500 to Schnee Company, terms 2/10,n/30. The items cost Darin $4.200 and the company uses the perpetual inventory method. On October 4, Schnee returns some of the merchandise. This merchandise had a selling price of $500 and a cost of $200. On October 8, Schnee Company paid Darin Company the correct amount due. 4. What journal entry does Darin Company make on October 8 to record Schnee's payment? Cash 5,880 Sales Revenue Accounts Receivable 120 5,760 Cash 6,500 Accounts Receivable 6,500 c. Cash 6,000 Accounts Receivable 6,000 120 120 Sales Revenue Accounts Receivable Cash Accounts Receivable 5,880 5.880 On October 1. Darin Company sold merchandise in the amount of $6,500 to Schnee Company, terms 2/10, 130. The items cost Darin $4,200 and the company uses the perpetual inventory method. On October 4, Schnee returns some of the merchandise. This merchandise had a selling price of $500 and a cost of $200. On October 8, Schnee Company paid Darin Company the correct amount due. 3. What is the journal entry that Darin makes on October 1 to record this sale? a. 6,500 Accounts Receivable Sales Revenue Inventory 2,300 4,200 6,500 6,500 Accounts Receivable Sales Revenue Costs of Goods Sold Inventory 4,200 4,200 6,500 Accounts Receivable Sales Revenue 6,500 6,500 6,500 Sales Revenue Accounts Receivable Inventory Costs of Goods Sold 4,200 4,200