On October 5, Riverbed Corporation buys merchandise for resale on account from Concord Corporation. The selling price of the goods is $5,380, and the cost to Concord Company is $2,940. On October 8, Riverbed returns defective goods with a selling price of $750 and a cost of $270. It is anticipated that these goods can be resold at a discount at some point in the future for at least their cost of $270, if not more. Both companies use a periodic inventory system.

Record the transactions on the books of Concord Corporation