On March 10 2020 Oliver Company sold to Bare Hardware 200 tool sets at a price of 551 each cost $28 per set with terms of 180 tak point. Cuker allows Barr to return any unused toolsets within 60 days of purchase. Culver estimates that (1) 10 sets will be returned the cost of recovering the products will be immaterial and (3) the returned tools sets can be resoldata proht on March 25 2020. Bart returned tool sets and received a credit to its account. Assume that instead of selling the toolsets on credit that her sold them for cash la Your answer partially correct Prepare journal entries for Culver to record (1) the sale on March 10, 2020. (2) the return on March 25, 2020, and (3) any. djusting entries required on March 31, 2020 (When Culver prepares financial statements). Culver believes the original estimate of returns is correct. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually: no entry is required, select "No entry for the account title and enter for the amounts) (1) Cash 10200 Sales Revenue 10200 (To record cash sales) Cost of Goods Sold 5600 5600 Inventory (To record cost of goods sold) Accounts Receivable (2) 306 Cost of Goods Sold 306 (To record sales returns) Sales Revenue 168 Cost of Goods Sold (To record cost of goods returned) Sales Revenue 168 (3) 306 Accounts Receivable 306 (Adjusting entry for sales returns) Inventory 5432 Cost of Goods Sold (Adjusting entry for cost of goods sold) 5432