..CU COULD 1 pts Question II On August 4, Cyrus sold merchandise on account to Swift Company for $700, terms 2/10,n/30. On August 7, Cyrus granted Swift a sales allowance and reduced the sale by $50 because some of the goods were slightly damaged. On August 12, Swift paid the account in full. What Journal Entry should Cyrus record on August 7? Dr Bad Debt Expense 50 Cr Allowance for Doubtful Accounts Dr Inventory 50 Cr Cost of Goods Sold 50 Dr Sales Returns and Allowances 50 Cr Accounts Receivable 50 No entry required until the customer pays the account D Question 12 1 pts On August 4, Cyrus sold merchandise on account to Swift Company for $700, terms 2/10,n/30. On August 7. Cyrus granted Swift a sales allowance and reduced the cost of the merchandise by $50 because some of the goods were slightly damaged. On August 12, Swift paid the account in full. What Journal Entry should Cyrus record on August 12? Dr Cash 650 Cr Accounts Receivable 650 Dr Accounts Receivable 637 Cr Cash 637 Dr Cash 637 Cr Accounts Receivable 637 Dr Cash 637 Dr Sales Discounts 13 Cr Accounts Receivable 650 60,600 1 pts Question 18 Yocum Company purchased equipment on January 1 at a list price of $120,000, with credit terms 2/10, n/30. Payment was made within the discount period and Yocum was given a $2,400 cash discount. Yocum paid $6,000 sales tax on the equipment, and paid installation charges of $1,760. Prior to installation, Yocum paid $4,000 to pour a concrete slab on which to place the equipment. What is the total cost of the new equipment? 125,360 129,360 131,760 123,600 Question 19 1 pts