Sales Returns and Allowances 2000 Accounts Receivable Record sales returns 2000 Aug 21 Merchandise Inventory . 1200 Cost of Goods Sold Restock inventory 1200 > C) Suppose that Chad's shipped back half of the goods on August 21 and kept the other half with a 5% allowance. Journalize the transactions Record the sales return transaction first. Date Account Title and Explanation Debit Credit 2019 Aug 21 Sales Returns and Allowances 630 x Accounts Receivable Record sales returns 2100 Aug 21 Merchandise Inventory . 600 Cost of Goods Sold 600 Restock inventory Check Type here to search ORI Person WS unde 3