Crane Construction Supplies uses a perpetual inventory system and the contract-based approach for revenue recognition. Management estimates that 15% of the sales will be returned by customers within the 30-day return period. The company had the following transactions in April. Apr. 16 17 18 Sold $19,000 of merchandise to Tiger Building & Decorating, terms n/30, FOB destination. The merchandise had cost Crane Construction Supplies $10,260. Paid freight costs of $170 for the April 16 sale. Tiger Building & Decorating returned $1,300 of merchandise; it had been damaged during delivery and was scrapped. The cost of the merchandise returned was $702. Collected the balance due from Tiger Building & Decorating. 25 For each transaction, prepare a journal entry to record the transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Record journal entries in the order presented in the problem.) Debit Credit Date Apr. 16 Account Titles and Explanation Accounts Receivable 19000 Sales 10260 8740 Refund Liability (To record sales on account.) Cost of Goods Sold Apr. 16 (To record cost of goods sold.) (Cash payment for freight costs.) (To record credit for goods returned.) (lo record credit for goods returned.) (To record cost of goods returned that was discarded.) Apr. 25 (Collection on account.)