On 1 June 2020, the company sold a product to a customer for $5,000 cash. The company sets its selling price by employing a 100% mark up on the cost of inventory. The customer has the ability to return the goods during a 7-day return period if the product is faulty and it only allows exchange of goods. The company estimates that about 2% of customers will return their product. Write down the journal entry on 1 June 2020