Business, 18.11.2020 17:10 kyledsmith18

On September 12, Vander Company, Inc. sold merchandise in the amount of $5,800 to Jepson Company on credit with terms of 2/10, n/30. The cost of the items sold is $4,000. Vander uses the gross method of accounting for sales and a periodic inventory system. On September 14, Jepson returns some of the merchandise. The selling price of the merchandise is $500 and the cost of the merchandise returned is $350. Jepson pays the invoice on September 18 and takes the appropriate discount. The journal entry that Vander makes on September 18 is:. A) Cash5,684
Sales discounts116
Accounts receivable 5,800
B) Cash5,800
Accounts receivable 5,800
C) Cash4,000
Accounts receivable 4,000
D) Cash5,684
Accounts receivable 5,684
E) Cash5,194
Sales discounts106
Accounts receivable 5,300

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On September 12, Vander Company, Inc. sold merchandise in the amount of $5,800 to Jepson Company on...

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