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M Inbox (585)-eric ! G ede-Google Sea × ? W' Electric Daisy Car × y V WileyPLUS × ' ( Raves-An NDIC | × G entries for receivi x" Chegg Study I Gu x Erica ? c?secure https://edugen.wileyplus.com/edugen/lti/main.uni Return to Blackboard Kimmel, Survey of Accounting, 1e, for Central New Mexico Community College Home Read, Study & Practice Assignment Gradebook ORION Assignment> Open Assignment CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES The following transactions are for Carla Vista Company 1. On December 3, Carla Vista Company sold $512,300 of merchandise to Sandhill Co. on account. The cost of the merchandise sold was $313,500. 2. On December 8, Sandhill Co. returned $22,900 of merchandise purchased on December 3. The cost of the goods was $16,000 3. On December 13, Carla Vista Company received the balance due from Sandhill Co. Prepare a tabular summary to record these transactions for Carla Vista Company using a perpetual inventory system. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) oble Assets Liabilities+ Stockholders Equity Review Resu Retained Earnings Common Stock Cash + Accts. Rec.+ Inv - Accts. Pay. + Rev Exp. Dec. 3 512300 512300 Sales revenue 13500 Cost of goods sold 313500 -22900 22900 Sales returns & allowances 16000 16000 Cost of goods sold 13 SHOW LIST OF ACCOUNTS LINK TO TEXT License Agreement Privacy Policy 2000-2018 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4.24.5.Explanation / Answer
As your answer is correct till the transaction of 8th December, I am helping you with the transaction of 13th Decemer.
Cash will increase by $ 489,400
and
Accounts Receivable will decrease by 489,400
Cash Received = Accounts Receivable = 512,300 - 22,900 = 489,400
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