Accounts Receivable (AR) Lecture Problems Example #1 (module 1) On July 3, XYZ Company sold $10,000 worth of merchandise to ABC Company on account. Credit terms were 2/10,n/30. ABC Company returned $2,000 worth of goods on July 5; paid one- half of its remaining bill on July 11, and paid the other one-half of its remaining bill on July 29. REQUIRED: Prepare all necessary journal entries recorded by XYZ Company for the above transactions