Prepare journal entrles to record each of the following sales transactions of TFC Merchandising. TFC uses a perpetual Inventory system and the gross method.

May $1$ Sold merchandise for $$640,$ with credit terms $\frac{n}{60}.$ The cost of the merchandise is $$420.$

May $9$ The customer discovers silght defects, in some units. TFC gives a price reduction $($allowance$)$ and credits the customer's accounts receivable for $$44$ to compensate for the defects.

June $4$ The customer in the May $1$ sale returned $$85$ of merchandise for full credit. The merchandise, which had cost $$54,$ is returned to inventory.

June $30$ Received payment for the amount due from the May $1$ sale less the May $9$ allowance and June $4$ return.

$\backslash$table$[[,$No$,$Date,Genel,Debit,Credit$],[i,1,$May $01,$Accounts receivable,$640,],[,,$Sales,,$840],[,,,.,],[i,2,$May $01,$Cost of goods sold,$420,],[,,$Merchandise inventory,,$420],[\sqrt[\phantom{2}]{18},,$T$.,,],[1,3,$May $09,$Depreciation expense,$44,],[,,$Accounts receivable,,$44],[,,,,],[1,4,$June $04,$Accounts receivable,$85,],[,,$Sales returns and allowances,,$85],[,,$W$\mathrm{.}1519!,,],[i,5,$June $04,$Cost of goods sold,$54,],[17,,$Merchandise inventory,,$54],[,,,,,]]$