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Required: Prepare the appropriate journal entries to record the transactions for the year, 20X1, including any year-end adjustments. Show calculations, rounded to the nearest dollar. On January 1, 20X1, Fox Corporation used excess cash to purchase U.S. Treasury bonds for $100,000. The bonds were purchased at face value. The appropriate interesst is 6%. Interest on these bonds is payable on January 1 and July 1 of each year. Fox\'s investment is accounted for as held to maturity. The fair value of the Treasury bonds is $102,000 at year-end. Solution Prepare journal entries to record each of the following sales transactions of a merchandising company. April 1 Sold merchandise for $2,000, granting the customer terms of 2/10, End of the Month (EOM); invoice dated April 1. The cost of merchandise is $1,400. April 4 The customer in the April 1 sale returned merchandise and received credit for $500. The merchandise which had a cost of $350, is returned to inventory. April 11 Received a payment for the amount due from the April 1 sale less the return on April 4. April 1 (Dr) Accounts receivable 2000 (CR) Sales 2000 *if perpetual add the entry* (DR) cost of goods sold 1400 (CR) Merchandise inventory 1400 April 4 (Dr) Sales return and allowances 500 (cr) Accounts receivable 500 *if perpetual add the entry* (DR) inventory 350 (CR) cost of goods sold 350 April 11 (DR) Cash 1470, Sales Discount 30 (cr) Accounts receivable 1500 .

Required: Prepare the appropriate journal entries to record the transactions for the year, 20X1,
including any year-end adjustments. Show calculations, rounded to the nearest dollar.
On January 1, 20X1, Fox Corporation used excess cash to purchase U.S. Treasury bonds for
$100,000. The bonds were purchased at face value. The appropriate interesst is 6%. Interest on
these bonds is payable on January 1 and July 1 of each year. Fox's investment is accounted for
as held to maturity. The fair value of the Treasury bonds is $102,000 at year-end.
Solution
Prepare journal entries to record each of the following sales transactions of a merchandising
company.
April 1 Sold merchandise for $2,000, granting the customer terms of 2/10, End of the Month
(EOM); invoice dated April 1. The cost of merchandise is $1,400.
April 4 The customer in the April 1 sale returned merchandise and received credit for $500. The
merchandise which had a cost of $350, is returned to inventory.
April 11 Received a payment for the amount due from the April 1 sale less the return on April 4.
April 1 (Dr) Accounts receivable 2000 (CR) Sales 2000 *if perpetual add the entry* (DR) cost of
goods sold 1400 (CR) Merchandise inventory 1400
April 4 (Dr) Sales return and allowances 500 (cr) Accounts receivable 500 *if perpetual add the
entry* (DR) inventory 350 (CR) cost of goods sold 350
April 11 (DR) Cash 1470, Sales Discount 30 (cr) Accounts receivable 1500

Required- Prepare the appropriate journal entries to record the transa.docx

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The following transactions and events affected its equity during the year. January 5 Declared a $0.50 per share cash dividend, date of record January 10 . March 20 Purchased treasury stock for cash. April 5 Declared a $0.50 per share cash dividend, date of record April 10 . July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was \$14 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.50 per share cash dividend, date of record October 10 . Required: 1. How many common shares are outstanding on each cash dividend date? 2. What is the total dollar amount for each of the four cash dividends? 3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend? 4. What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.) 5. How much net income did the company earn this year?.

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Complete Week Four Assignment in WileyPLUS: • Exercise Do It! 11-1 • Exercise E11-15 • Exercise E11-16 • Problem P11-6A • Problem P11-8A Week 4 assignment Question 1 Correct. Indicate whether each of the following statements is true or false. 1. The corporation is an entity separate and distinct from its owners. (True) 2. The liability of stockholders is normally limited to their investment in the corporation. (True) 3. The relative lack of government regulation is an advantage of the corporate form of business. (False) 4. There is no journal entry to record the authorization of capital stock. (True) 5. No-par value stock is quite rare today. (False)

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Party Supply Inc. a calender year corporation, took a physical inventory count on November 30, Year 1 and properly valued its inventory at $4,250,000. Because the company will not perform another physical inventory count on December 31, Year 1, you have been asked to calculate how each of the following transactions would affect the inventory balance reported on the December 31, Year 1 balance sheet. Enter the amount in the associated cells. 1. The company purchased inventory costing $1,500,000 during the month of December. The inventory was entirely paid for in December so that the company could take advantage of a 2% discount on the purchase. Freight-in on the inventory was $100,000 for the month. 2. The company purchased goods from a Chinese manufacturer. The cost of goods was $750,000. The goods were shipped FOB shipping point on December 23 and were received at U.S. customs on January 2, Year 2. The goods were delayed in customs until January 8, Year 2, when they were finally received by Party Supply. 3. Sales for the month of December were $5,000,000 and the company has an average gross profit margin of 30%. 4. Party Supply placed goods with a selling price of $300,000 on its shipping dock on December 31, Year 1. The sale and transaction were recorded by the accounting department on December 31. The terms of the sale were FOB shipping point. The shipper did not pick up the goods the same afternoon because of inclement weather. The goods were picked up on January 2, Year 2. 5. In response to a customer survey, Party Supply decided to start selling goods on consignment in December Year 1. An initial order of $100,000 (at cost) was delivered from the Party Supply warehouse to the consignee. The consignee sold 25% of the goods in December, Year 1 and another 40% in January, Year 2. The remaining inventory was returned by the consignee in January. 6. Party Supply started to use a public warehouse so that its products would be closer to its customers locations. $150,000 of the total inventory was held in the public warehouse on December 31, Year 1. The cost to ship the goods from the main warehouse to the public warehouse was $20,000. The rent paid on the public warehouse for December Year 1 was $10,000. 7. Part of the company's inventory on hand at year end is specific to New Year's Eve. The value of that inventory decreases substantially if it is not sold before year end. Remaining inventory of these items with an original cost of $50,000 was on hand at December 31, Year 1. In early January, Year 2, Party Supply sold these items for $10,000 and also paid $6,000 to have the inventory shipped to the buyer..

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Question 1: On December 31, 2014, Frick Incorporated, had the following balances (all balances are normal): Accounts Amount Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares authorized, 10,000 shares issued and outstanding) $1,000,000 Common Stock ($10 par value, 200,000 shares authorized, 100,000 shares issued and outstanding) $1,000,000 Paid-in Capital in Excess of par, Common 150,000 Retained Earnings 700,000 The following events occurred during 2014 and were not recorded: a. On January 1, Frick declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share. Stock dividends were distributed on January 31 to shareholders as of January 25. b. On February 15, Frick reacquired 1,000 shares of common stock for $20 each. c. On March 31, Frick reissued 250 shares of treasury stock for $25 each. d. On July 1, Frick reissued 500 shares of treasury stock for $16 each. e. On October 1, Frick declared full year dividends for preferred stock and $1.50 cash dividends for outstanding shares and paid shareholders on October 15. f. One December 15, Frick split common stock 2 shares for 1. g. Net Income for 2014 was $275,000. Requirements : a. Prepare journal entries for the transactions listed above. b. Prepare a Stockholders' section of a classified balance sheet as of December 31, 2014. Question 2: On January 1, 2014, Frick Company purchased 10,000 shares of the stock of Floozy, and did obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $90,000, and represents a 30% ownership stake. Floozy made $25,000 of net income in 2014, and paid dividends of $10,000. The price of Floozy's stock increased from $10 per share at the beginning of the year, to $12 per share at the end of the year. Requirements : a. Prepare the January 1 & December 31 general journal entries for Frick Company. b. How much should the Frick Company report on the balance sheet for the investment in Floozy as the end of 2014 Question 3: The following is selected information from Flip Company for the fiscal years ended December 31, 2014: Flip Company had net income of $1,225,000. Depreciation was $500,000, purchases of plant assets were $1,250,000, and disposals of plant assets for $500,000 resulted in a $50,000 gain. Stock was issued in exchange for an outstanding note payable of $725,000. Accounts receivable decreased by $25,000. Accounts payable decreased by $40,000. Dividends of $300,000 were paid to shareholders. Flip Company had interest expense of $50,000. Cash balance on January 1, 2014 was $250,000. Requirements : Prepare Flip Company's statement of cash flows for the year ended December 31, 2014 using the indirect method. Question 4: Frick Corporation had the following bond transactions during the fiscal year 2014: a. On January 1: issued ten (10), $1,000 bonds at 102. The 5-year bonds, is dated Janua.

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Integrative Problems equire the integration of multiple concepts to find the solutions. 187. A 2.14-g sample of sodium hypoiodite is dissolved in water make 1.25 L of solution. The solution pH is 11.32. What is Kp for the hypoiodite ion? Solution molarity = W/G.M.Wt * volume of solution in L = 2.14/165.893*1.25 = 0.0103M NaIO(aq) ---------> Na^+ (aq) + IO^- (aq) 0.0103M 0.0103M PH = 11.32 POH = 14-PH = 14-11.32 =2.68 POH = 2.68 -log[OH^-] = 2.68 [OH^-] = 10^-2.68 = 0.00209M IO^- (aq) + H2O ----------> HIO(aq) + OH^- I 0.0103 0 0 C -0.00209 0.00209 0.00209 E 0.00821 0.00209 0.00209 Kb = [HIO][OH^-]/[IO^-] = 0.00209*0.00209/0.00821 = 0.00053 Kb of hypoiodite ion = 5.3*10^-4 >>>>answer .

Integrative Problems equire the integration of multiple concepts to fi.docx

Integrative Problems equire the integration of multiple concepts to fi.docx

Integrative Problems equire the integration of multiple concepts to fi.docx

Insight Communications Promotes employees with good technical skills into supervisory positions and then teaches them leadership skills.Is this the vst way for the company to get supervisors to lead well?Why and why not Solution This is the best way for the company to get supervisors to lead well. 1) This is because the already skilled employees of the comapany are turned into supervisors. 2) They have a know-how of how work is done in the company. 3) They have better rapport(communications ) with other employess. If instead of this a supervisor is hired as a completly new employee, he will then only have the leadership and management skills. He won\'t have technical skills like an internal employee of the company. This is a major demerit because a person is supervising othe employees who dosen\'t know about the technical work the employees are doing. How can he supervise them? 4) They have a technical know-how. 5) the will cost the company less to convert alredy existing staff to supervisor tha to hire a new one .

Insight Communications Promotes employees with good technical skills i.docx

Insight Communications Promotes employees with good technical skills i.docx

Insight Communications Promotes employees with good technical skills i.docx

Infrared radiation is also called IR. Describe how it is different from visible light. What emits IR? Can animals use it? Explain how emission of IR sometimes â€œwastesâ€ energy. Give examples showing how IR is used in modern technology. Solution Infrared Radiation consists of electromagnetic waves with wavelengths ranging from 700 nm to 1 mm. These radiations cannot be detected by human eye. On the other hand, visible light consists of electromagnetic waves ranging from 380 nm to 700 nm. These radiations can be detected by human eye. IR are also known as thermal radiations. All objects emit and absorb IR. The hotter the object, the more IR it will emit. Dark surfaces are good emitters of IR. Some animals have the ability to sense IR, known as IR vision. These animals have specialised IR sensing organs known as pit organs. For example: snake, mosquitoes, bed bugs and vampire bats are kind of animals that uses IR sensing to track their prey or any potential danger approaching them. Infrared radiations are associated with thermal energy. In most of the devices, emission of thermal energy is waste of energy. For example: a light bulb generates heat along with light energy on passage of electricity. Now this heat energy is not a useful energy and gets wasted in the environment. Use of IR in Modern technology: 1. It is used in heat sensitive thermal imaging cameras. They are used to study heat patterns of humans and animals. They are also used as night cameras. 2. IR is used in gas monitoring and analyzing systems. These systems are used for testing air samples to see what gases are contained in that sample. 3. It is used in thermal imaging and thermal motion detection. Thermal imaging is used by firefighters to see where a burning building is too hot to safely enter. Thermal imaging is used for space imaging and to know the temperature of distant stars. .

Infrared radiation is also called IR- Describe how it is different fro (1).docx

Infrared radiation is also called IR- Describe how it is different fro (1).docx

Infrared radiation is also called IR- Describe how it is different fro (1).docx

Infrared radiation is also called IR. Describe how it is different from visible light. What emits IR? Can animals use it? Explain how emission of IR sometimes â€œwastesâ€ energy. Give examples showing how IR is used in modern technology. Solution basic differences are- The electromagnetic spectrum comprises all wavelengths of light from the very short (gamma rays) to the very long (radio waves). Both visible and IR light are near the middle of the spectrum The wavelength of an electromagnetic wave is the distance between peaks (or troughs) of the wave. IR radiation has longer wavelengths than visible light. The frequency of a wave is a measure of how many times the wave oscillates between its minimum and maximum amplitude in one second. The frequencies of IR waves are less than the frequencies of visible ligh All objects on Earth emit ir r adiation Blood-sucking insects, such as bedbugs and mosquitoes, rely on their infrared vision to feed themselves. They can \"see\" body heat and use the heat signature of the carbon dioxide (CO2) gas that humans and other animals naturally exhale to locate their prey. it waste enegy in form of greenhouse effect Far Infrared Light Can Be used For Anti-terror Devices, Faster Wireless. ... Modern technology uses many frequencies of electromagnetic radiation for communication, including radio waves, TV signals, microwaves and visible light .

Infrared radiation is also called IR- Describe how it is different fro.docx

Infrared radiation is also called IR- Describe how it is different fro.docx

Infrared radiation is also called IR- Describe how it is different fro.docx

Initial Knowledge Check For each row in the table below, decide whether the pair of elements ill form a molecular or lonic compound. If they will, then enter the chemical formula of the compound. If the elements will form more than one compound, enter the compound with the fewest total number of atoms. You may assume all chemical bonds are single bonds, not double or triple bonds element \'1 element #2 compl ind formed? chemical Da O neither krypton molecular n nelther chlorine magnesiumo molecular O neither Solution 1) Hydrogen and oxygen are both non metals So, they will form molecular compound The compound is H 2 O Answer: molecular H2O 2) Krypton is noble gas. It do not react with metal Answer: neither 3) Chlorine is non metal and Magnesium is metal So, they form ionic compound Magnesium form ions Mg 2+ Chlorine forms Cl - these ion combine to form MgCl2 Answer: ionic MgCl 2 .

Initial Knowledge Check For each row in the table below- decide whethe.docx

Initial Knowledge Check For each row in the table below- decide whethe.docx

Initial Knowledge Check For each row in the table below- decide whethe.docx

Is the ability of the human ear better or worse than the sonic capabilities of a CD quality audio system? What can a digital engineer take advantage of because of this fact? Name the four classes of coding methods. Identify whether each compression method is lossy or lossless: Morse Code_____Run Length Encoding_____JPEG_____Say the relative frequencies of four symbols in an alphabet are 1/2,1/4,1/8 and 1/8. What is the entropy (numerical value) of the alphabet? Suppose we want to compress two sound recordings, A and B that are in.WAV format and equally long. If the entropy of A is twice that of B, which recording has a greater amount of randomness? Which recording should we expect to be shorter in compressed form? Solution As already short answer provided for other questions except Q10, I am answering it. 10) Relative frequencies of four symbols in an alphabet are, Â½, Â¼, 1/8, 1/8, So P(1) = Â½ P(2) = Â¼ P(3) = 1/8 P(4) = 1/8 Entropy of the alphabet = H(P) = - [ P(1) logP(1) + P(2) logP(2) + P(3) logP(3)+ P(4) logP(4)] = - [1/2log(1/2) + Â¼ log(1/4) +1/8 log(1/8) +1/8 log(1/8)] = - [(-0.150514998) + (-0.150514998) + (-0.112886248) + (-0.112886248)] = 0.526802492 .

Is the ability of the human ear better or worse than the sonic capabil.docx

Is the ability of the human ear better or worse than the sonic capabil.docx

Is the ability of the human ear better or worse than the sonic capabil.docx

Is my half equation and ionic equation from the answer key correct? I don\'t understand how the ionic equation came about. 10 cal energy can be converted to electrical energy in the simple (voltaic) cel shown below voltmete sait bridge Hg -Fe Explain how the diagram confims that magnesium is above iron in the metal reactivity series The elen Flow i from M to This shes tlo tMg i are Veal tiv as it le ore les easy thon Fe (bl/ Idenity the postive elactrode of the cal, Tron 11?write the haltequation forte reacton occurring at the ron elodiode. 10 (e) ete fecs) Witee oeral onke ecustion, inckuding sta ymbols, for the resction when the cel is d) Deduce whether the voltage produoad by the celil would be greater or lesser f the ran hat-cel is neplsced by a copper half cel. Explain your arrswer Hage woul be reater as copp i furlint auay from maes Total. 8 Turn over Solution Yes your answer is right. i) Half reaction represents either the anodic half or cathodic half reaction.Here the question is asked about half reaction in iron electrode. In the given cell, Fe is acting as cathode. Hence it should undergo reduction. your equation representing reduction of Fe 2+ to Fe is right. ii) Ionic equation including state symbols is asked. Ionic equation is nothing but the overall cell reaction represented in ionic form. Simply it is combination of cathode half reaction and anode half reaction. In the given cell, Magnesium is the anode. It undergoes oxidation. i.e. Mg(s) to Mg 2+ by loss of two electrons. We have already seen the cathode half reaction of reduction of Fe. Combining these two half reactions we get the overall ionic reaction Mg (s) + Fe 2+ (aq) --------> Mg 2+ (aq) + Fe (s) .

Is my half equation and ionic equation from the answer key correct- I.docx

Is my half equation and ionic equation from the answer key correct- I.docx

Is my half equation and ionic equation from the answer key correct- I.docx

Inorganic Chemistry - Wurtzite vs. Rock-Salt Structures Beryllium oxide (BeO) prefers the Wurtzite structure type (typical of ZnS) while LiF prefers the rock-salt structure type (typical of NaCI). Why does this happen? Use the following terms/words in your explanation a) ionic radii b) chemical bonding Solution Beryllium oxide prefers wurtzite structure type whereas LiF prefers rocksalt type structure. If we look all these elements, namely, Be, O, Li, and F falls in the second period of periodic structure. Atomic radius decreases from left to right in the periodic table. This is because of addition of an electron in the same shell of the atom which compresses the atom due to more attraction towarrds the nucleus. The electronegativity of elements increases from left to right since it is inverse property of atomic radii. Atomic radius of Be 2+ is less than Li + whereas atomic size of O 2- is more than F - . Moreover, LiF is ionic in natute due to coulombic interaction of highly electropositive atom (Li) and highly electronegative atom (F). On the other hand, BeO is having covalent character along with ionic character in their chemical bond. Thus, BeO prefers wurtzite structure type whereas LiF prefers rocksalt type structure. .

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Inorganic Chemistry - Wurtzite vs- Rock-Salt Structures Beryllium oxid.docx

Inorganic Chemistry - Wurtzite vs- Rock-Salt Structures Beryllium oxid.docx

Is it time for IPI to reconsider its salesforce organization by product line? Solution During the period from August 2, 1989, (date of incorporation) through March 1990, the Company was largely inactive. Since that time, the Company has been engaged principally in research and drug discovery programs and clinical development of a drug compound. On July 25, 1994, the Company acquired all of the outstanding Common Stock of ImmunoPharmaceutics, Inc. (\"IPI\") (now discontinued), a San Diego, California based company, in exchange for Common Stock of the Company. TBC consolidated the IPI operation into TBC in the first half of 1996 The Company is presently working on a number of long-term development projects which involve experimental and unproven technology, which may require many years and substantial expenditures to complete, and which may be unsuccessful. To date, other than small amounts of monoclonal antibody compounds and services produced and sold by ImmunoPharmaceutics, Inc. (\"IPI\") (now discontinued), the Company has not developed or sold any products, and no assurance can be given that the Company will be able to develop, manufacture or market any products in the future. In addition, no assurance exists that future revenues will be significant, that any sales will be profitable, or that the Company will have sufficient funds available to complete its research and development programs or market any products which it may develop. Accordingly, the Company is considered to be in the development stage as it has not to date derived significant revenue from its planned principal operations. .

Is it time for IPI to reconsider its salesforce organization by produc.docx

Is it time for IPI to reconsider its salesforce organization by produc.docx

Is it time for IPI to reconsider its salesforce organization by produc.docx

INITIALS: 22. Which of the following represents a combustion reaction? A) 2Na(s) + 2H2O(l) ? 2NaOH(aq) + H2(g) B) 2011(g) + 702(g) ? 4CO2(g) + 6H2O(l) C) N2(g) +3H(g) 2NH3(g) D) LiOH(aq) +HNO,(aq)LiNOs(aq) + HO0) E) 2Al(s)+3H SO4(aq)Al:(SO) (aq)+3H:(g) The common constituent in all acid solutions is A) CI B) OH C) H D) H2SO E) H2 23. 24. Which of these properties is/are characteristic(s) of gases? A) High compressibility B) Relatively large distances between molecules C) Formation of homogeneous mixtures regardless of the nature of gases D) A and B. E) A, B, and C. 25. Heat is a measure of thermal energy transferred between two bodies at different temperature. a measure of the change in temperature. a measure of temperature. a measure of thermal energy. A) B) C) D) 26. Thermal energy is A) B) C) D) the energy stored within the structural units of chemical substances. the energy associated with the random motion of atoms and molecules. solar energy, i.e. energy that comes from the sun. energy available by virtue of an object\'s position. 27. An exothermic reaction causes the surroundings to A) decrease its temperature. B) warm up. C) expand. D) become acidic. E) release CO2. Solution 22) in combustion reaction, a compound reacts with O2 to form CO2 and H2O This is correct for option B Answer: B 23) All acid have H+ Answer: C 24) All 3 statements are correct Gas occupy the volume of container. So, there is large distance between molecules Due to this it can be compressed a lot Also gas and gas mixture will always be homogeneous Answer: E Only 1 question at a time please .

INITIALS- 22- Which of the following represents a combustion reaction-.docx

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Micro-Scholarship, What it is, How can it help me.pdf

Micro-Scholarship, What it is, How can it help me.pdf

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Making communications land - Are they received and understood as intended? we...

Making communications land - Are they received and understood as intended? we...

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Asian American Pacific Islander Month DDSD 2024.pptx

Asian American Pacific Islander Month DDSD 2024.pptx

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This PowerPoint helps students to consider the concept of infinity.

This PowerPoint helps students to consider the concept of infinity.

This PowerPoint helps students to consider the concept of infinity.

Required- Prepare the appropriate journal entries to record the transa.docx

1. Required: Prepare the appropriate journal entries to record the transactions for the year, 20X1, including any year-end adjustments. Show calculations, rounded to the nearest dollar. On January 1, 20X1, Fox Corporation used excess cash to purchase U.S. Treasury bonds for $100,000. The bonds were purchased at face value. The appropriate interesst is 6%. Interest on these bonds is payable on January 1 and July 1 of each year. Fox's investment is accounted for as held to maturity. The fair value of the Treasury bonds is $102,000 at year-end. Solution Prepare journal entries to record each of the following sales transactions of a merchandising company. April 1 Sold merchandise for $2,000, granting the customer terms of 2/10, End of the Month (EOM); invoice dated April 1. The cost of merchandise is $1,400. April 4 The customer in the April 1 sale returned merchandise and received credit for $500. The merchandise which had a cost of $350, is returned to inventory. April 11 Received a payment for the amount due from the April 1 sale less the return on April 4. April 1 (Dr) Accounts receivable 2000 (CR) Sales 2000 *if perpetual add the entry* (DR) cost of goods sold 1400 (CR) Merchandise inventory 1400 April 4 (Dr) Sales return and allowances 500 (cr) Accounts receivable 500 *if perpetual add the entry* (DR) inventory 350 (CR) cost of goods sold 350 April 11 (DR) Cash 1470, Sales Discount 30 (cr) Accounts receivable 1500