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  3. 1. company a purchased $300 of merchandise on cred

1. Company A purchased $300 of merchandise on credit from XYZ Co. on March 1,...

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Accounting

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1. Company A purchased $300 of merchandise on credit from XYZ Co. on March 1, and paid sales tax of 5A, on the transaction. On March 31, Company A returned $50 worth of merchandise and paid the balance of the account. Show the entry that Company A should record on March 31 2. Customer A purchased $300 of merchandise on credit from XYZ Co. on March 1, and paid sales tax of 5% on the transaction. On March 31, the customer returned $50 worth of merchandise and paid the balance of the account. Show the entry that XYZ Co. should record on March 31

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