E8-18 (similar to) Question Help Historically about of all the merchandise Uptown, Inc. solis is returned. In the month of January, Uptown sold merchandise costing $52,000 to a customer for $65,000 on account on January 4. on January 17. Uplown rofunded $3.120 for the return of some of the merchandise On January 28, Uptown sold merchandise oosting 510,500 for $18,000 on account Assume the company uses a perpetual inventory system and al accounts are unpaid at the time of returns Requirement Prepare the journal entries to record the sales, estimated returns, and the actual rebum. Record dobits first, then credits. Exclude explanations from any journal entries. Do not found informediary calculations. Only round the amount you input in the cell to the nearest dollar.) Begin by recording the journal entry to record the sale on January 4. Do not record the entry for cost of goods sold. We will do that in the next step. Account January 4