animationfusion
29.08.2019 •
Business
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. five 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. debit to sales returns and allowances for $125.00.
c. credit to sales tax payable for $7.50.
d. debit to accounts receivable for $132.50.
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