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Fast2F Fast2F
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7 years ago
Sue's Jewelry sold 30 necklaces for $25 each to a credit customer. The invoice included a 6% sales tax and payment terms of 2/10, n/30. In addition, 5 necklaces were returned prior to payment. The entry to record the return would include:
A) a debit to Sales Returns and Allowances for $132.50.
B) a credit to Sales Tax Payable for $7.50.
C) a debit to Accounts Receivable for $132.50.
D) a debit to Sales Returns and Allowances for $125.00.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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LaffioLaffio
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7 years ago
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