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. Accounts Receivable $500, Cr. Sales Returns and Allowances $500 and Dr. Merchandise Inventory $300, Cr. Cost of Goods Sold $300 b. Dr. Sales Returns and Allowances $500, Cr. Accounts Receivable $500 and Dr. Merchandise Inventory $300, Cr. Cost of Goods Sold $300 c. Dr. Accounts Receivable $500, Cr. Sales Returns and Allowances $500 d. Dr. Sales Returns and Allowances $500, Cr. Accounts Receivable $500