On march 18, james smith purchased $5,000 of furniture from home furnishings on account. the cost of the goods was $3,000. on march 20, home fu goods damaged in transit. which of the following represents the correct way to record this tr rnishings granted the customer a $1,000 sales allowance for 1?
a. refunds payable 1,000 cash 600 merchandise inventory 600 estimated returns inventory 1,000
b. refunds payable o accounts receivable 1,000 1000
c. sales revenue o cash 1,000
d. sales returns and allowances1,000 cash 1,000

Stormie zanzibar owns a bakery in the fictitious country of olombia. each month the government’s market ministry mails her a large list of the regulated price of goods which include products like bread, muffins and flat bread. the list also dictates the types of goods she can sell at the bakery and what she is to charge. because of the regulations placed on these goods, stormie has increased her production of sweets, pies, cakes, croissants and buns and decreased her supply of breads, muffins and flat bread. she has taken these steps because the sweet goods’ prices are not government controlled. stormie zanzibar lives under what type of economy?