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Question 18 48 points Save Answer Prepare the journal entries for the following independent scenarios. Round all calculations to the nearest dollar. a) a.) Francona Inc. sold bobblehead dolls with a cost of $267,000 to retailers on account and recorded sales revenue of $445,000 on February 29, 2020. Francona Inc. allows retailers to return bobbleheads that do not sell in 8 months after sale. Past experience shows that the normal return rate is 20%. By September 1, 2020, retailers returned bobbleheads to Francona and were granted credit of $66,000. Prepare Francona's necessary journal entries for February 29, September 1, and September 30, assuming Francona prepares financial statements on September 30 of each year. b ) On June 18, Plesac Corporation sent $55,000 of merchandise on consignment to Clevinger Company; Plesac paid cash for the $3,000 shipping freight costs. Clevinger paid $1,200 for local advertising, which is reimbursable from Plesac. By December 31, 75% of the merchandise had been sold for $80,000. Clevinger notified Plesac, retained a commission of 10%, and remitted the cash due to Plesac on December 31. Prepare Plesac's necessary journal entries for June 18 and December 31