A. sold merchandise for cash (cost of merchandise $160,230). $ 292,600 b. received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $920). 1,720 c. sold merchandise (costing $12,600) to a customer on account with terms n/30. 28,000 d. collected half of the balance owed by the customer in (c). 14,000 e. granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,960