Question: Please explain the process, thank you! Saved Help Save & Exit On September 12, Vander Company sold merchandise in the amount of $4.200 to Jepson

Please explain the process, thank you! Saved Help Save & Exit

Please explain the process, thank you!

Saved Help Save & Exit On September 12, Vander Company sold merchandise in the amount of $4.200 to Jepson Company, with credit terms of 2/10, n/30. The cost of $2,900. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jep selling price of the merchandlse is $360 and the cost of the merchandise returned is $250. Jepson pays the invoice on September 13,and takes the appropriate ys the invoice on September 18, and takes the appropriate discount. The journal entry that Vander makes on September 18 is

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