Transaction:Sales on account and recording Cost of Goods Sold; Cash Collection within Disc Period

ABC Company sold merchandise on credit on June 23 for $800, terms 2/10, n/30.The cost of merchandise inventory sold was $530.On June 25, $100 of goods were returned for credit.The cost of merchandise inventory returned was $80.Using the following journal form (you may copy and paste in your response text screen), give thejournal entry on June 23, June 25, and July 2 to record the receipt of the balance due within the discount period.Credit terms: "2/10, n/30" "two-ten, net-thirty"is used forSales Discountin this case.It means that the buyer may take2% cash discount on the invoice (net of any sales return or allowances), if (s)he pays within 10 days of invoice date.Otherwise, theinvoice price(netof any sales return or allowances)is due within30 days.