Newell Company completed the following transactions in October:

1. Indicate the cash received for each collection. Show you calculates

2. Prepare the journal entry for the following.
Oct. 17 sale. The merchandise sold had a cost of $3,500.
Oct. 23 sales return. The merchandise returned had a cost of $140.
Oct. 28 collection.
Newell uses a perpetual Inventory system.

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Credit Sales Sales Returns Date of Collection Amount Terms Date Amount Date Oct. 3 $600 Oct. 11 1,700 Oct. 17 5,000 Oct. 21 1,400 Oct. 23 2,300 2/10, n/30 3/10, n/30 Oct. 14 1/10, n/30 Oct. 20 2/10, n/60 Oct. 23 2/10, n/30 Oct. 27 Oct. 8 Oct. $400 1,000 16 29 Oct. Oct. 27 28 200 Oct. 400 Date of Collection Oct. 8 Oct. 16 $1 Oct. 29 $1 Oct. 27 Oct. 28 %24 %24 %24 %24 %24