Transcribed image text : 1. On October 7 , XYZ sells ABC Company $5 , 000 of
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Transcribed image text : 1. On October 7 , XYZ sells ABC Company $5 , 000 of inventory, Terms: 2/15/ n 45 ; FOB Destination; on account On October 10 t h , A BC returns $1 , 000 of the inventory because of it being defective. On October 15, ABC pays XYZ, the full amount, less the discount. Answer the following questions: a. What is the entry by XYZ on October 7 + h ? b. What is the entry by A BC on October 7 th> c. What is the entry by XYZ on October 10 th for the return? d. What is the entry by ABC on October 10 th for the return? e. What is the entry by XYZ for the receipt of cash on October 15 th? f. What is the entry by ABC Co for the payment on October 15 th? Fill this section out: Sales SRA Sales Dis Net Sales GOGS
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