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22 The joumal entry to record a retum of merchandise purchased on account under inventory system would be a. Acoounts Payable Purchase Returns and Allowances b. Purchase Returns and Allowances Accounts Payable c. Accounts Payable Inventory d. Inventory Accounts Payable 23. A credit sale of $4,000 is made on April 25, terms 3/10, n/30, on which a retum of $300 is granted on April 28. What amount is received as payment in full on May 4 ? a. $3,589 b. $3,700 c. $3,880 d $4,000 24. Dawn Company uses a periodic inventory system made a purchase of merchandise on credit from Wagne Corporation on August 3, for $7,000, terms 2/10, n/45. On August 10. Dawn makes the appropriate payment to Wagne. The entry on August 10 for Dawn Company is a. Accounts Payable Cash b. Accounts Payable Cash c. Accounts Payable Purchase Discounts Cash d. Accounts Payable 7,000 Inventory Cash 6,800 7,000 7,000 7,000 6.850 140 6. 860 140 6. 860 25. Chan Company's financial information is presented below