prepare journal entry for cost of sales

In August, Drawing Designs sold $590 000 of merchandise, al sales were in cash The cost of sales for August was $360,000. Based on past experience, Drawing users an estimated return rate of 6% of sales Record the journal entries for the monthly sales cost of sales estimated returns, and cost of estimated retums for August. (Record debits first, then credits Exclude explanations from anyjournal entries) Prepare the journal entry for the monthly sales. Do not record the cost of sales, we will do that is the next stop) Journal Entry Date Accounts Deb Credit August Cash 590,000 Sales Revenge 500.000 Prepare the oumal entry for the cost of sales Journal Entry Accounts Debat Credit Date August