SANDHILL COMPANY RECEIVED THE BALANCE DUE FROM MONTY COMPANY
/15 = 1 Your answer has been saved. See score details after the due date On March 6, Monty Company returned $87,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $58,800. (List all debit entries before credit entries. Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation Debit Credit Sales Returns and Allowances Accounts Receivable (To record merchandise returned) Inventory Cost of Goods Sold (To record cost of merchandise returned) #7000 58800 87000 58800 01:28:46 Question 4 of 10 .../15 EI (c) On March 12, Sandhill Company received the balance due from Monty Company (List all debit entries before credit entries Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation Debit Credit Cash List of Accounts Attempts: 0 of 1 used Submit Answer Save for Later Last saved 7 minutes ago. Saved work will be autoutube 4,5,6 01:27:46 Question 4 of 10 K > -/15 E 1 Your answer has been saved. See score details after the due date On March 2, Sandhill Company sold $870.000 of merchandise on account to Monty Company, terms 3/10, n/30. The cost of the merchandise sold was $560.000 (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation Debit Credit 1170000 (To record credit sale) 540000 (To record cost of merchandise sold)