make a journal entry for the following information

a.

	New Books sold merchandise to Readers Corner at a selling price of $550,000. The merchandise had cost New Books $415,000.
b.	Two days later, Readers Corner complained to New Books that some of the merchandise differed from what Readers Corner had ordered. New Books agreed to give an allowance of $10,000 to Readers Corner.
c.	Just three days later, Readers Corner paid New Books, which settled all amounts owed.