Longmire \& Sons made sales on credit to Alderman Sports totaling $500,000 on April 18 . The cost of the goods sold is $400,000. Longmire estimates 3% of its sales to Alderman may be returned. On May 22,$9,000 worth of goods (with a cost of $7,200 ) are returned by Alderman. Longmire uses a periodic inventory system. Required: Prepare the related joumal entries for Longmire \& Sons