On May 3, merchandise with a selling price of $ 880 was returned by Valez. The goods had a cost of $ 580 and they were restored to inventory (List all debit entries before credit entries. 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 for the amounts.) Debit Credit Date Account Titles and Explanation May 3 Accounts Payable 880 Accounts Receivable 880 (To record sales returns) May 3 Inventory 580 Sales Returns and Allowances 580 (To record cost of goods returned)