Question 14 8 pts On July 2. 2020, Lake Company sold and shipped to Sue Carlson merchandise having a sales price of $9.000 (cost $5,400) with terms of n/30. Lake estimates that merchandise with a sales price of $900 will be returned. Upon receipt of the goods, on July 5, Sue Carlson returned to Lake Company $500 of merchandise. Lake Company estimates the returned items are expected to be resold at a normal profit. Prepare journal entries (recorded on a net basis) for Lake Company to record 1) the sale on July 2nd and 2) the return on July 5th. Edit View Insert Format Tools Table 12pt Paragraph BI U ATP v