Customer return and refund on december 28, 20y3, silverman enterprises sold $19,500 of merchandise to beasley co. with terms 2/10, n/30. the cost of the goods sold was $10,100. on december 31, 20y3, silverman prepared its adjusting entries, yearly financial statements, and closing entries. on january 3, 20y4, silverman enterprises issued beasley co. a credit memo for returned merchandise. the invoice amount of the returned merchandise was $4,300 and the merchandise originally cost silverman enterprises $2,350. a. journalize the entries by silverman enterprises to record the december 28, 20y3, sale. if an amount box does not require an entry, leave it blank.

The partnership of douglas, ryan, and ellen has dissolved and is in the process of liquidation. on july 1, 2016, just before the second cash distribution, the assets and equities of the partnership along with profit and loss sharing ratios were as follows: cash $30,000receivable - net $20,000inventories $25,000equipment - net $30,000total assets $80,000liabilities $12,000douglas, capital (20%) $28,000ryan, capital (50%) $24,000ellen, capital (30%) $16,000total liab./equity $80,000assume that the available cash is distributed immediately, except for a $2,000 contingency fund that is withheld pending complete liquidation of the partnership. how much cash should be paid to each of the partners? a. $3,200 douglas, $8,000 ryan, $4,800 ellenb. $5,600 douglas, $14,000 ryan, $8,400 ellenc. $16,000 douglas, $0 ryan, $0 ellend. $8,000 douglas, $0 ryan, $8,000 ellen