Question I (10 marks) A Company completed the following transactions in October: Date Credit Sales Sales Returns Date Date of Amynt Terms Oct Amount 3 $ 800 Collection 2/10, n/30 Oct 11 8 1,200 3/10, n/30 Oct 14 $ 500 16 17 7,000 1/10, n/30 20 21 1,200 29 1,700 2/10, n/60 23 400 27 23 2,500 2/10, n/30 27 500 28 The Company uses a perpetual inventory system. Required a) Calculate the cash received for each collection. Show your calculations. b) Prepare the journal entry for the Oct. 17 sale. The merchandise sold had a cost of $3,500 Oct. 23 sales return. The merchandise returned had a cost of $200 and was returned to inventory Oct. 28 collection Activa Co to s