On November 1, 2012, Everett Janitorial Supply sold merchandise for $5,000, FOB destination, 2/10, n/30. The merchandise cost $3,200. Everett paid transportation costs of $100. On November 6, 2012, merchandise of $1,000 from the November 1 sale was returned. The returned merchandise had cost $600. Everett received payment for the balance of the sale on November 10, 2012. Please provide the journal entry to record the receipt of payment from the customer.

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The Answer of On November 1, 2012, Everett Janitorial Supply sold merchandise for $5,000, FOB destination, 2/10, n/30. The merchandise cost $3,200. Everett paid transportation costs of $100. On November 6, 2012, merchandise of $1,000 from the November 1 sale was returned. The returned merchandise had cost $600. Everett received payment for the balance of the sale on November 10, 2012. Please provide the journal entry to record the receipt of payment from the customer.

On November 1, 2012, Everett Janitorial Supply Sold Merchandise for $5,000