During its first year of operations, Drone Zone Corporation (DZC) bought goods from a manufacturer on account at a cost of $50,000. DZC returned $8,000 of this merchandise to the manufacturer for credit on its account. DZC then sold $38,000 of the remaining goods at a selling price of $64,600. DZC records sales returns as they occur and then records estimated additional returns at year-end. During the year, customers returned goods that had been sold at a price of $6,800. These goods were in perfect condition, so they were put back into DZC’s inventory at their cost of $4,000. At year-end, DZC estimated $9,010 of current year merchandise sales would be returned to DZC in the following year; DZC estimates $5,300 as its cost of this merchandise. Prepare journal entries to record DZC’s transactions and estimates, assuming DZC uses a perpetual inventory system.