RunFast Inc. (RunFast) sold 100 elliptical machines to a chain of fitness facilities. Payment was due on delivery in the amount of $300,000. The inventory has a cost of $200,000. The equipment has a 120-day return policy that allows for equipment to be returned if it has any performance issues. Based on past history, 5% of equipment will be returned. At the end of the 120 days, 4% of the equipment was returned. Assume the cost to recover inventory and any decrease in value equates to 10% of the cost of the equipment. RunFast reports under the ASPE framework. Required: a) Prepare any journal entries RunFast should record on the date of sale. b) Prepare any journal entries RunFast should record on the return of the goods and expiration of the return period.