24. Baker Company sells merchandise on account of 1/10, n/30. Helix Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Baker Company make upon receipt of the check? a. Cash.... Accounts Receivable. b. Cash... Sales Returns and Allowances. Accounts Receivable.... c. Cash... Sales Returns and Allowances. Sales Discounts. Accounts Receivable. d. Cash.. Sales Discounts. Sales Returns and Allowances. Accounts Receivable.... 4,400 4,356 644 4,356 600 44 4,950 50 4,400 5,000 5,000 600 4,400
24. Baker Company sells merchandise on account of 1/10, n/30. Helix Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Baker Company make upon receipt of the check? a. Cash.... Accounts Receivable. b. Cash... Sales Returns and Allowances. Accounts Receivable.... c. Cash... Sales Returns and Allowances. Sales Discounts. Accounts Receivable. d. Cash.. Sales Discounts. Sales Returns and Allowances. Accounts Receivable.... 4,400 4,356 644 4,356 600 44 4,950 50 4,400 5,000 5,000 600 4,400
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 26MC: A customer returns $690 worth of merchandise and receives a full refund. What accounts recognize...
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Topic Video
Question
![24. Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms
of 1/10, n/30. Helix Company returns $600 of merchandise that was damaged, along with
a check to settle the account within the discount period. What entry does Baker Company
make upon receipt of the check?
a. Cash...
Accounts Receivable.
b. Cash......
Sales Returns and Allowances.
Accounts Receivable.
c. Cash......
Sales Returns and Allowances.
Sales Discounts.
Accounts Receivable.
d. Cash......
Sales Discounts..
Sales Returns and Allowances.
Accounts Receivable....
4,400
4,356
644
4,356
600
44
4,950
50
4,400
5,000
5,000
600
4,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa4c50a31-ebc5-4245-8231-16e9330abe31%2Fd240b08d-58e5-41dd-9dea-0d34299c65b0%2F4398h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:24. Baker Company sells merchandise on account for $5,000 to Helix Company with credit terms
of 1/10, n/30. Helix Company returns $600 of merchandise that was damaged, along with
a check to settle the account within the discount period. What entry does Baker Company
make upon receipt of the check?
a. Cash...
Accounts Receivable.
b. Cash......
Sales Returns and Allowances.
Accounts Receivable.
c. Cash......
Sales Returns and Allowances.
Sales Discounts.
Accounts Receivable.
d. Cash......
Sales Discounts..
Sales Returns and Allowances.
Accounts Receivable....
4,400
4,356
644
4,356
600
44
4,950
50
4,400
5,000
5,000
600
4,400
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