SEC1 x Forms/d/e/1FAIpQLSeznHIM6zCPSbr MbeJF7EB1GOGKRjn4nR-3hFwEJ2xn4RhstQ/formResponse Clear selection 7. On April 4, Fashion Central Suppliers (FC) sold sweaters to one of its customers for $62,000 on credit terms of 3/15, net 30. On April 8, the customer contacted FC to say that the sweater colours did not match their original order. FC reached an agreement with the customer to keep the shipment and FC granted the customer a price reduction of $5,000. The customer paid the outstanding bill on April 15. The journal entry to be made by FC on April 15 is: A. Debit Sales Returns and Allowances $5,000; Credit Accounts Receivable $5,000. B. Debit Accounts Receivable $60,140, Credit Sales Revenue $60,140, C. Debit Cash $60,140; Credit Accounts Receivable $60,140. D. Debit Cash $55.290; Debit Sales Discounts $1.710; Credit Accounts Receivable $57,000 E Debit Cash $57,000, Debit Sales Discounts $1,860; Credit Accounts Receivable S58.860 B Shrinkage A Refers to the loss of inventory for merchandising companies is not able to be directly measured by a perpetual inventory system OC. is recognized by debiting Cost of Goods Sold o can arise because of theft and deterioration of merchandise C Prisc F9 F10 F12 Insert % 5 of N 6 ( 9 ) 0 8