Question 10 --/1 View Policies Current Attempt in Progress On July 10, 2020, Bonita Music sold CDs to retailers on account and recorded sales revenue of $656,000 (cost $485,440). Bonita grants the right to return CDs that do not sell in 3 months following delivery. Past experience indicates that the normal return rate is 15%. By October 11, 2020, retailers returned CDs to Bonita and were granted credit of $70,700. Prepare Bonita's journal entries to record (a) the sale on July 10, 2020, and (b) $70,700 of returns on October 11, 2020, and on October 31, 2020. Assume that Bonita prepares financial statement on October 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) No. Date Account Titles and Explanation Debit (To record sales) (To record cost of goods sold) (10 record sales returns) (To record cost of goods returned)