May 1 sold merchandise for 5698 , with credit terins /68. The cost of the nerchandise is s4as. May 9 The custoner discovers slight defects in sone units. TFC gives a price reduction (allowance) and credits the custoner's accounts receivable for $40 to conpensate for the defects. June 4 The custoner in the May 1 sale returned 575 of nerchandise for full credit. The iterehandise, which had cost $50, is returned to inventory. June 30 Received paynent for the amount due from the May 1 sate less the May 9 atlowance and June 4 return. Journal entry worksheet Sold merchandise for $600, with credit terms n/60. Notel Enter debits before credits