Scenario 1: On July 1st, Wellness Gym obtained inventory from Equip Store Ltd with a value of $20,000, utilizing a credit arrangement. Equip Store Ltd provides a 4% credit allowance if payment is completed within 10 days. On July 3rd, Wellness Gym returned damaged inventory valued at $5,000. On July 9th, Wellness Gym made the full payment to Equip Store Ltd. Scenario 2: On August 1st, Wellness Gym receives an advance payment of $3,000 gym subscription for three months from a client. On August 30th, Wellness Gym recognizes $1,000 of the advance payment as revenue for the services that have been completed during the month. On September 30th, Wellness Gym recognizes an additional $1,000 of the advance payment