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Question 3 - 3 marks - 9 minutes Oak Company makes sunglasses. On March 1, 2020, Oak Company sells merchandise costing $140,000 to Sunglass Shop.

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Question 3 - 3 marks - 9 minutes Oak Company makes sunglasses. On March 1, 2020, Oak Company sells merchandise costing $140,000 to Sunglass Shop. Sunglass Shop buys the merchandise on account, agreeing to pay $320,000 with terms 1/10, n/30 On March 3, Sunglass Shop returns goods costing $2,000 and Oak Company credits their account for $6,000. The returned merchandise is in good condition, and Oak Company puts the merchandise back in their warehouse for sale. On March 8, 2020, Sunglass Shop pays what they owe. Required: From the perspective of Oak Company, record all relevant journal entries

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