SALES RETURNS
Swan and Bloom, Inc., is a wholesaler of novelty items to small stores. All sales are on credit with no discount offered. During March, Swan and Bloom accepted the following sales returns:
a. Johnson Company returned merchandise with a list price of $600. Johnson had not yet paid for the returned merchandise.
b. Becker Bargains returned merchandise with a list price of $750. Becker had paid for the merchandise.
c. Fifth Avenue Market returned merchandise with a list price of $200. The bill for the returned merchandise had been paid.
d. Thorn Catering returned merchandise with a list price of $600. Thorn had paid for the merchandise.
SALES RETURNS