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Sue's Jewelry sold 50 necklaces for $25 each to a credit customer. The invoice included a 4% sales tax and payment terms of 3/10, n/30.
Sue's Jewelry sold 50 necklaces for $25 each to a credit customer. The invoice included a 4% sales tax and payment terms of 3/10, n/30. In addition, 55 necklaces were returned prior to payment. The entry to record the payment after the discount period would include: (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
A. a credit to Accounts Receivable for $1,125.
B. a credit to Cash for $1,170.
C. a credit to Accounts Receivable for $1,170.
D. a credit to Cash for $1,125.
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