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In August, Exterior Designs sold $520,000 of merchandise; all sales were in cash. The cost of sales for August was $360,000. Based on past experience, Exterior uses an estimated return rate of 2% of sales. Record the journal entries for the monthly sales, cost of sales, estimated returns, and cost of estimated returns for August. (Record debits first, then credits. Exclude explanations from any journal entries.) Prepare the journal entry for the cost of sales. Journal Entry Date Accounts Debit Credit August Prepare the journal entry for the estimated returns. Journal Entry Date Accounts Debit Credit August Prepare the journal entry for the cost of estimated returns Journal Entry Date Accounts Debit Credit August Choose from any list or enter any number in the input fields and then continue to the next question. In August, Exterior Designs sold $520,000 of merchandise; all sales were in cash. The cost of sales for August was $360,000. Based on past experience, Exterior uses an estimated return rate of 2% of sales. Record the journal entries for the monthly sales, cost of sales, estimated returns, and cost of estimated returns for August. (Record debits first, then credits. Exclude explanations from any journal entries.) Prepare the journal entry for the monthly sales. (Do not record the cost of sales, we will do that in the next step.) Journal Entry Accounts Debit Credit Date August Prepare the journal entry for the cost of sales. Journal Entry Date Accounts Debit Credit August Prepare the journal entry for the estimated returns. Journal Entry Date Accounts Debit Credit August Prepare the journal entry for the cost of estimated returns. Journal Entry Choose from any list or enter any number in the input fields and then continue to the next

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