i. On February 27th, the company sold goods on account to CUSTOMER, $1,800. The goods had a cost of $900. Dungy uses a perpetual inventory system.

ans--> A/R (debit) $1800
Sales (credit) $1800

Cost of Goods Sold (debit) $900
Merchandise Inventory (credit) $900

ii. On February 27th, the company realized that it recorded collection from customers on February 21 incorrectly. $2,700 was collected from Campos and $950 from Dennison. Adjust the entry accordingly.

Im not sure how i should write the (ii). please help, have test tomorrow.thnx ^_^

To adjust the entry for the incorrect recording of collection from customers on February 21, you need to reverse the original entry and create a new entry based on the correct amounts. Here's how you can adjust the entry:

1. Reverse the original incorrect entry:
- Credit Accounts Receivable by the amount collected from Campos ($2,700)
- Debit Sales by the same amount ($2,700)

2. Create a new entry with the correct amounts:
- Debit Accounts Receivable by the correct amount collected from Campos ($2,700)
- Credit Sales by the same amount ($2,700)

Repeat these steps for the collection from Dennison as well.

So the adjusted entry for the collection from Campos would be:
- Debit Accounts Receivable $2,700
- Credit Sales $2,700

And the adjusted entry for the collection from Dennison would be:
- Debit Accounts Receivable $950
- Credit Sales $950

Remember to check your accounting system and make sure you are entering the adjustments correctly. Also, keep in mind that these adjustments will affect your financial statements, so it's important to keep accurate records. Good luck on your test!