Please prepare the jornal entries as well as describe the effect on income and amounts effected. Also please write a memo including what went wrong and how it affected income.

10A,B. While working in your office, you received a call from an irate customer. The customer complained that she was still being billed for products that had been previously returned. After speaking with the warehouse supervisor you determined that the systems were returned during the week before year-end. The sales manager had told the warehouse manager not to worry about preparing a return slip Page 5 until the new year. The warehouse manager also asked you whether it was OK to prepare the return slip now. You further determined that the products were counted during the year-end inventory and valued at $18,000. The original sale was recorded at $27,000. 10A. Record the adjustment to correct sales returns, if necessary. 10B. Record the adjustment to correct inventory, if necessary