1 On September 12, Ryan Company sold merchandise in the amount of $8.400 to Johnson Company with credit terms of 20, 30. The cost of the terms 55.300 Ryan uses the periode ventory system and the ne method of accounting for sales on September Johnson returns some of the non-defective merchandise which is restored to inventory. The selling price of the returned merchandise is $750 and the cost of the merchandise returned is $480. The entry or entries that Ryan must make on September 14 is are Sales return and allowances Accounts receive 7145 Sales returns les Accounts receivable Merchandise Leventory Cost of goods sold Sales returns and allowances Accounts receivable O O 745 7145 Sales returns and allowances ACCs receivable Perchandise frente Cost of goods sold 67 44 Sales returns and alles Accounts receivable