ES INTERMEDIATE VINACOTEST ACT 1 ACE 30) A Question 22 Carla Company is presently testing number of new cursed later that it has recent developed. To stimulate merest, tas decided to go to the of womers the unconditional right of return to these products if not used. The returned for months laterets of Careers $1,610,000 cost $885,500) on January 2, 2020. Customers are reed to pay the moto by March 15, 2020 Prepare the journal entry for Carla tanuary 2, 2020. (Credit accounts are automatically indented when amount is entered De not intent manually. If we "Ne entry for the account title and enter for the amounts) Date Account Titles and Explanation Dehir Credit Jan 2, 2020 (To recognize revenue) (To record cost of goods sold) Assume that one customer returns planters on March 1, 2020, due to unsatisfactory performance. Prepare the journal entry to record this transaction, assuming this customer purchased 96,000 of planters from Carla and also record the entry required to pay the full amount due by Harch 15, 2020. (Credit account titles are automatically indented when amount is entered. De not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) Date Account Tities and Explanation Debit Credit . (To record sales returns) (To record cost of goods returned) + CULATOR BACE MERT (To record cost of goods sold Assume that one customer returns planters on March 1, 2020, due to unsatisfactory performance. Prepare the cornal entry to record this transaction, and the customer purchased 196.000 planters from Carla and also record the entry required to pay the full amount due by March 15, 2020. (Credit account tities are automatically indented when amount is red. De indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts) Date Account Titles and Explanation Debit Credit (To record sales returns) (To record cost of goods returned) Assume Carla prepares financial statements quarterly, Prepare the necessary entries (if any) to adjust Cartofinancial results for the above transactions on March 31, 2020, assuming remaining expected returns of $65,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Mar 31, 2020 (To record sales returns) (To record cost of goods returned)