2) Merchandising Activities (12 points) One Lightning Corp. sold merchandise for $450 which cost them $200 on account. The customer was dissatisfied with some of the goods and returned $100 worth (sales price) and received a cash refund. Instructions: (a) What Journal Entries should One Lightning Corp. enter at the time sold and at the time of the return? Assume that One Lightning Corp. uses a Perpetual Inventory System. Date Credit Debit Account Titles At time of Sale At time of Return