Question: On October 1 0 th , ABC returns $ 1 , 0 0 0 of the inventory because of it being defective. On October 1

On October 10th, ABC returns $1,000 of the inventory because of it being defective.
On October 15, ABC pays XYZ, the full amount, less the discount. Answer the following questions:
a. What is the entry by xYZ on October 7th?
b. What is the entry by ABC on October 7 th >
c. What is the entry by XYZ on October 10 th for the return?
d. What is the entry by ABC on October 10 th for the return?
e. What is the entry by XYZ for the receipt of cash on October 15 th?
f. What is the entry by ABC Co for the payment on October 15th?
Complete this portion of the Income Statement using the above data:

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