Mary operates a wholesale business that distributes canned food. She receives a complaint from a customer and accepts $500 worth of product back from the customer that was billed on account. The cost of the product is $300. Which of the following entries is correct? Select one: O a. Dr. A/R $500, Cr. Sales Returns and Allowances $500 O b. Dr. Sales Returns and Allowances $500, Cr. A/R $500 and Dr. Inventory $300, Cr. COGS $300 O c. Dr. Sales Returns and Allowances $500, Cr. A/R $500 O d. Dr. A/R $500, Cr. Sales Returns and Allowances $500 and Dr. Inventory $300, Cr. COGS $300 Next