On March 10, 2017, Whispering Company sold to Barr Hardware 200 tool sets at a price of $47 each (cost $28 per set) with terms of n/60, f.o.b. shipping point. Whispering allows Barr to return any unused tool sets within 60 days of purchase. Whispering estimates that (1) 10 sets will be returned, (2) the cost of recovering the products will be immaterial, and (3) the returned tools sets can be resold at a profit. On March 25, 2017, Barr returned 6 tool sets and received a credit to its account.

Prepare journal entries for Whispering to record (1) the sale on March 10, 2017, (2) the return on March 25, 2017, and (3) any adjusting entries required on March 31, 2017 (when Whispering prepares financial statements). Whispering believes the original estimate of returns is correct. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Indicate the income statement and balance sheet reporting by Whispering at March 31, 2017, of the information related to the Barr sales transaction.