HelleniCo sells $4,500 worth of clothing products to a customer, who returns half of them because the wrong size was delivered.Which of the following would appear in the journal entry to record the return in HelleniCo's accounting system:Group of answer choicesCR Accounts receivable $4,500DR Sales returns and allowances $4,500DR Accounts receivable $2,250DR Sales returns and allowances $2,250

HelleniCo makes a $2,500 credit sale to Priya. Six months passes without payment and HelleniCo determines the receivable to be uncollectible. The business proceeds to write-off the amount owing, and utilises the allowance method.Which journal entry correctly captures the write-off of bad debt?Group of answer choicesDR Sales revenue $2,500; CR Accounts receivable $2,500DR Bad debt expense $2,500; CR Allowance for bad debts $2,500DR Bad debt expense $2,500; CR Accounts receivable $2,500DR Allowance for bad debts $2,500; CR Accounts receivable $2,500

Giorgio Italian Market bought $11,100 worth of merchandise from Food Suppliers and signed a 120-day, 9% promissory note for the $11,100. Food Supplier's journal entry to record the sales transaction is:Multiple ChoiceDebit Notes Receivable $11,100; credit Sales $11,100.Debit Accounts Receivable $11,100; credit Sales $11,100.Debit Accounts Receivable $11,433; credit Sales $11,433.Debit Notes Receivable $11,100; debit Interest Receivable $333; credit Sales $11,433.Debit Notes Receivable $11,433; credit Sales $11,433.

On Jan 5, a customer returned merchandise that had been purchased earlier on credit. The original sale was for $500, and the cost to the seller was $150. Demonstrate the required journal entry to record the return on the books of the seller, assuming the goods can be sold to another customer.Multiple choice question.Debit Accounts Receivable $500 and credit Cash $500.Debit Accounts Receivable $500; credit Sales Returns and Allowances $500; credit Merchandise inventory $150; and credit Cost of Goods Sold $150.Debit Sales Returns and Allowances $150; credit Accounts Receivable $150.Debit Sales Returns and Allowances $500; debit Merchandise Inventory $150; credit Accounts Receivable $500; and credit Cost of Goods Sold $150.

The sales returns and allowances account is an example ofGroup of answer choices

When a seller records a return of goods purchased on credit, the account that is credited with the selling price of the goods returned is: Group of answer choices Sales Revenue. Sales Returns and Allowances. Inventory. Accounts Receivable.