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What journal entry will missouri company make

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Question

Missouri Company uses a perpetual inventory system. On October 1, Missouri Company sold inventory on account in the amount of $6,500 to Montebello Company, terms 1/10, n/30. The items cost Missouri $4,200. On October 4, Montebello returns some of the inventory. This inventory had a selling price of $500 and a cost of $200. On October 8, Montebello Company paid Missouri Company the amount due on that date.

What journal entry (entries) will Missouri Company make on October 4 to record the sales return?

Reference no: EM132410228

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