Qatar University Press (QU Press) signed an agreement with Jareer Bookstore for selling purposes of QU Press books. However, the contract shows that Jareer has the right to return any unsold books no later than 24 weeks after the point of sale.

QU Press calculated the total cost of each book at QR 70. On February 1, 2021, QU Press sold 300 books on account. The selling price is QR 150 per book. However, QU Press estimates that Jareer Bookstore will return 50 books within the returning period policy. However, 65 actual books were returned on June 4.

Required:

Record the required journal entries of the transactions