Marin-Air is selling a new model of high-efficiency air conditioner. To stimulate interest, Marin-Air is granting certain large customers the unconditional right to return these air conditioners if not fully satisfied. The right of return extends for six months. Marin-Air estimates returns of 9%. Marin-Air sells these air conditioners on account for $18, 040,000 (cost $11, 726,000) on April 2, 2017. Customers are required to pay the full amount due by June 15, 2017. (a) Prepare the journal entry for Marin-Air on April 2, 2017. Use the gross method to record sales. By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. (b) Assume that on May 15, 2017 one customer returns air conditioners that it purchased from Marin-Air for $427,000. Prepare the journal entry to record this transaction and the receipt of cash from customers on June 15, 2017