year! More Info - X $1,900 Jul 4 Belvidere Furnishings purchased $11,000 of merchandise from E and M Furniture Warehouse on account Terms, 3/15, 1/30, FOB shipping point. The goods cost E and M Furniture Warehouse $3,000, 7 Belvidere Furnishings paid a $150 freight bill for delivery of the goods purchased on July 4. 10 Belvidere Furnishings returned $1,900 of the merchandise purchased on July 4. The goods cost and M Furniture Warehouse $600. 18 Belvidere Furnishings paid $1,700 of the July 4 invoice less the discount. 31 Belvidere Furnishings paid the remaining amount owed on the July 4 invoice tion of the Jour Accounts Print Done Cara stion 5, P4-40A (simil... Part 8 of 11 HW Score: 72.94%, 7.29 of Points: 1.08 of 2 The following transactions occurred between Belvidere Furnishings and E and M Furniture Warehouse during July of the current year. Click the icon to view the transactions Read the requirements 4 Cost of goods sold Inventory 3,000 3,000 Jul 10.Belvidere Furnishings returned $1,900 of the merchandise purchased on July 4 The goods cost and M Furniture Warehouse 5600 Start by recording the receivable portion of the merchandise return (Do not yet record the inventory adjustment related to the return. We will do this in the next journal entry) Journal Entry Date Accounts Debit Credit 10 Jul