Suppose Muddyriver.com sells 2,800 books on account for $19 each (cost of these books is $31,920) on October 10, 2018 to ABC Store. One hundred of these books (cost $1,140) were damaged in shipment, so Muddyriver.com later received the damaged goods from ABC Store as sales returns on October 13, 2018. (Assume both companies use a perpetual inventory system and that sales are recorded at the net amount.) Read the requirements. Requirement 1. Journalize ABC Store's October 2018 transactions. (Record debits first, then credits. Exclude explanations from journal entries.) Oct. 10: ABC Store purchased 2,800 books on account for $19 each from Muddyriver.com. Date Accounts Debit Credit Oct. 10 i Requirements 1. Journalize ABC Store's October 2018 transactions. 2. Journalize Muddyriver.com's October 2018 transactions. The company estimates sales returns at the end of each month. Oct. 13: ABC Store returned one hundred books damaged in shipment. Date Accounts Debit Credit Oct. 13 Print Done Requirement 2. Journalize Muddyriver.com's October 2018 transactions. The company estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries.) Oct. 10: The sale of 2,800 books on account for $19 each (cost of these books is $31,920) to ABC Store. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Oct. 10 Now journalize the expense related to the October 10 sale. Date Accounts Debit Credit Oct. 10 Oct. 13: ABC Store returned one hundred books (cost $1,140) damaged in shipment. Start by preparing the entry to record the sales return. Do not update the Merchandise Inventory with this entry. We will do that in the following step. Date Accounts Debit Credit Oct. 13 Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise. Date Accounts Debit Credit Oct. 13