Navis, Incorporated, has a liberal return policy that allows its customers to return any purchase within 30 days without question. While following this policy results in more returns than are normal in the Industry, Navis management believes that policy helps create customer loyalty, and as a result, it is willing to accept a higher level of returns. In addition, the nature of the products Navis sells means they can easily be returned to its Inventory and become available to other customers without significant additional cost. Required: a. Record Navis, Incorporated's sales for a month at $76,800. The Items sold cost $57,600. Navis records sales at the total Invoice amount. b. Record the return of $8,400 of the above sales within the 30-day return period. c. Record the receipt of payment on the remainder of the month's sales, assuming that customers purchasing $51,800 took advantage of a 2 percent cash discount for early payment. None of the customers taking advantage of the cash discount were among those that returned their purchases. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Record the return of $8,400 of the above sales within the 30-day return period. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. No Transaction General Journal 1 a Sales returns and allowances Accounts receivable 2 b Inventory Cost of goods sold < Required A Required C > Debit Credit 8,400 8,400 8,400 8,400