On July 2, 2015, Impire Company sold to Sue Black merchandise having a sales price of $6,000 (cost $3,600). Impire estimates that merchandise with a sales value of $600 will be returned. On July 3, Black returned $250 of merchandise contained flaws.. the returned items have a fair value (cost) of $100. On July 12, the company received a check for the balance due from Black.

Instructions: Prepare journal entries for Impire Company to record all the events noted above .

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