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(a) (b) (c) On July 1, Pharoah Co. sold merchandise on account to Stacey Inc. for $22,160, terms 4/10,n/30 On July 8, Stacey In returned

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(a) (b) (c) On July 1, Pharoah Co. sold merchandise on account to Stacey Inc. for $22,160, terms 4/10,n/30 On July 8, Stacey In returned merchandise worth $2,360 to Pharoah Co. On July 11, Stacey Inc. paid for the merchandise Date Debit Credit July 1 22160 Account Titles and Explanation Accounts Receivable Sales Revenue Sales Returns and Allowances Accounts Receivable 22180 July 8 V 2360 2360 July 11 Cash 21368 Sales Discounts 792 Accounts Receivable 22160

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