Storm Inc. completed the following transactions in October: 
Storm uses a perpetual inventory system.Instructions
a. Calculate the cash received for each collection. Show your calculations.
b. Prepare the journal entry for the
(1) Oct. 17 sale. The merchandise sold had a cost of $3,500.
(2) Oct. 23 sales return. The merchandise returned had a cost of $200 and was returned to inventory.
(3) Oct. 28 collection.
Definitions:
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