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:
Group Therapy
A form of psychotherapy where a small, structured group of people meet under the guidance of a trained therapist to discuss and explore their issues.
Atypical Antipsychotic Drugs
Medications used to treat psychiatric conditions, which differ from traditional antipsychotics in their chemical structure and side effects.
Traditional Antipsychotic Drugs
A class of medications used to treat symptoms of psychosis such as hallucinations and delusions, primarily affecting dopamine receptors.
Schizophrenia
A long-term mental disorder involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception and inappropriate actions.
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