The following information is available for Juliet Hotel Supplies Ltd. regarding a recent contract with a customer:

Selling price ............................................................ $5,000

Estimated returns ....................................................... 500

Amount of available cash discount ............................ 90

Cost of goods sold .................................................. 3,250

Estimated inventory returns .................................... 325

The performance obligation was completed on April 6, 2021. Prepare the journal entries to recognize the revenue from this contract assuming that Juliet Hotel Supplies uses the contract-based approach to recognize revenue and that management estimates that the customer will most likely pay within the discount period.