2) On June 10, Freedom sold 200 sound systems to Loud & Noisy (LN) for $1,500 each on credit. Freedom buys these sound system from their suppliers for $1,000 each. LN has right to return the sound systems with in 90 days and receive full refund. Freedom estimates that 4% of units sold to LN will be returned. Freedom's cost to recover these sound systems will be immaterial and the returned sound systems are expected to resold at a profit. On August 7, 5 sound systems are returned by LN. Prepare the journal entries for Freedom on June 10 and August 7. (6 marks)