PiCo uses the perpetual method. On february 17, PiCo sells 30,000 in merchandise on account that cost 10,000. On February 23,10% of these goods are returned. Prepare the entry that PiCo marks on February 23 to record the sales return.

a. Sales returns $3000

Accounts rec Receivable $3,000

b. Sales Return $1,000

Gross Profit $2,000

Account Receivable $3,000

c. Sales Return $3,000

Accounts receivable $3,000

Inventory $1,000

Cost of Good Sold $1,000

d. Sales Returns $3,000

Account Receivable $3,000

Inventory $1,000

Purchase Returns $1,000