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Merchandise with a sales price of $4,200 is sold on account with terms 2/10, n/30....

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Accounting

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Merchandise with a sales price of $4,200 is sold on account with terms 2/10, n/30. The Journal entry to record the sale would include a O Debit to Cash for $4,200 Credit to Sales for $4,116 Debit to Customer Refunds Payable for $84 O Debit to Accounts Receivable for $4,200 Determine the amount to be paid by the biver for at settlement of each coming that creat for returns and allowance was recened one to payment and that he invoices were paid when the count pened Merchandise 16.100 (a) 10) Transportation Paid by Seller 3333 574 Transportation Terms FOB Shipping Point, 1/10 30 Fob Destination, 2/10, net 45 Returns and Allowances 3700 $2,600 112,000 Using the following information, what is the amount of gross profit? Purchases $ 27,027 Selling expense Inventory, September 1 7.522 Inventory, September 30 Administrative expense 860 Sales Rent revenue 1,193 Interest expense O $22,820 O $25,922 O $22.951 $ 869 11,598 45,771 957 5957

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