On July 1,2024, Wildhorse inc, enters into a contract with Kreighton Limited to supply $23,200 of goods, terms ny/30, FOE shipping point. The cost of the goods to Wildhorse was $16,000. Wildhorse has a stated policy that products may be returned within 20 days of the date of sale. Wilchorse's marngement expects that it will be entitied to 95% of the sale amount and therefore entimated roturns based on past experience are 5% of sales. The goods were shipped to Kreighton on July 6 . Wildhorse uses the contract based approach to recognizing revenue. Answer the following questions. Prepare the necessary journal entries at the appropriate date to recognize the sale of the goods by Wildhorse to Kreighton. (Credlf: account tities are autamatically indented when the amount is entered, Do not indent manually, Record joumal entries in the onder presented in the problem. If no entry is required, select "No Entry' for the account tithes and enter Ofar the amounts List all debit entries beforr aredit entries) Assume that Krelghton returns goods with a selling price of 5928 and a cost of 5630 an Jily 1A ininte the joumial entries for the returned merchandise. (Credit account titles are outoinatically indentrd when the amount is erim journal entries in the onder presented in the problem. If no entry is required, select "No Entry" for the indent manually Record amounts. List all debit entries before credit entries: Wier and enter Q for the