Journalize the following sales transactions for Bargain Sportswear. Explanations are not required. The company estimates sales returns at the end of each month. (Assume the company uses a perpetual...

Extracted text: Journalize the following sales transactions for Bargain Sportswear. Explanations are not required. The company estimates sales returns at the end of each month. (Assume the company uses a perpetual inventory system and records sales at the net amount.) (Click the icon to view the transactions.) Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit May 1 Now journalize the expense related to the May 1 sale-Cost of goods sold is $8,000. More Info Date Accounts Debit Credit Мay 1 May 1 Bargain sold $22,000 of men's sportswear for cash. Cost of goods sold is $8,000. May 5 Bargain received a $1,500 sales return on damaged goods from the customer on May 1. Cost of goods damaged is $750. May 5: Bargain received a $1,500 sales return on damaged goods from the customer on May 1. Cost of goods damaged is $75 Print Done Start by preparing the entry to record the sales return and refund of cash. Do not update the Merchandise Inventory with this el Date Accounts Debit Credit May 5 Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise-Cost of goods returned, $750. Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question.