During its first year of operations, Drone Zone Corporation (DZC) bought goods from a manufacturer on account at a cost of $70,000. DZC returned $10,000 of this merchandise to the manufacturer for credit on its account. DZC then sold $58,000 of the remaining goods at a selling price of $84,600. 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 $8,800. These goods were in perfect condition, so they were put back into DZC's inventory at their cost of $6,000. At year-end, DZC estimated $11,010 of current year merchandise sales would be returned to DZC in the following year; DZC estimates $7,300 as its cost of this merchandise. Prepare journal entries to record DZC's transactions and estimates, assuming DZC uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of goods from a manufacturer on account for $70,000. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal Journal entry worksheet Record the return of goods by the manufacturer at $10,000. Note: Enter debits before credits. General Journal Debit Credit Transaction b Record entry Clear entry View general journal Journal entry worksheet 1 2 3 3 4 5 6 7 8 > Record the sale of goods at $84,600. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 2 3 3 5 5 6 7 8 > Record the cost of goods sold at $58,000. Note: Enter debits before credits. General Journal Debit Credit Transaction d Record entry Clear entry View general journal Journal entry worksheet 1 2. 3 3 4 5 5 6 7 8 > Record the return of goods by the customer at $8,800. Note: Enter debits before credits. Transaction General Journal Debit Credit e Record entry Clear entry View general journal Journal entry worksheet Record the return of goods estimated for the following year at $11,010. Note: Enter debits before credits. General Journal Debit Credit Transaction g Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 8 > Record the cost of goods estimated to be returned in the following year at $7,300. Note: Enter debits before credits. General Journal Debit Credit Transaction h Record entry Clear entry View general journal