Chapter 5 - Practice Problems (Sale of Inventory) Problem #4 (Sale of inventory on credit, receipt of cash & return) Nov 4, sold merchandise on account, $6,200. The cost of the merchandise sold was $4,900. The invoice terms were 2/10, n/30. Date Accounts Dr Cr Nov 14, received full payment from customer. Date Accounts Dr Cr Dec 2, paid customer a cash refund of $1,050 for returned merchandise from the Nov 1 sale. The cost of the merchandise returned was $890. Date Accounts Dr Cr