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ABC Company's major customer is DEF Company.

May $3$ABC made its first and only purchase of inventory for the period on May $3$ for $1,000$ units at a price of $$8$ cash per unit $($for a total cost of $$8,000).$

May $5$ ABC sold $500$ of the units in inventory for $$12$ per unit $($invoice total: $$6,000)$ to DEF Company under credit terms $\frac{2}{10},\frac{n}{60}.$ The goods cost ABC$$4,000.$

May $7$ DEF returns $50$ units because they did not fit its needs $($invoice amount: $$600).$ ABC restores the units, which cost $$400,$ to its inventory.

May $8$ DEF discovers that $50$ units are scuffed but are still of use and, therefore, keeps the units. ABC gives a price reduction $($allowance$)$ and credits DEF's Account Receivable for $$200$ to compensate for the damage.

May $15$ ABC receives payment from DEF for the amount owed on the May $5$ purchase; payment is net of returns, allowances, and any cash discount.

Prepare journal entries to record the following transactions for ABC.

Answer is not complete.

$\backslash$table$[[$No$,$Date,General Journal,Debit,Credit$],[1,$May $03,$Merchandise inventory,$8,000,],[,,$Cash,,$],[,,,,],[2,$May $05,$Accounts receivable,,$],[,,$Sales,$6,000,],[,,,,],[,,,,]]$