i am trying to figure out this accounting problem?

Question

a credit sale is make on july 10 for $ 800, terms 2/10, n/30. on july 12, the purchaser retuns $100 of goods for credit. give the journal entry in july 19 to record the receipt of the balance due within the discount period??

Answer 1

From the seller's point of view:
July 10
Dr A/cs receivable 800
Cr Sales 800

July 12
Dr Sales returns 100
Cr A/cs receivable 100

July 19
Dr Cash 686
Dr Sales discount 14 (2% of $700)
Cr A/cs receivable 700