XYZ Company sold merchandise for $30,000 on credit. The cost of goods sold was $18,000. Subsequently, $2,000 of goods were returned by customers. Requirements: a. Prepare the journal entry to record the sale of goods by XYZ Company. b. Record the cost of goods sold. c. Record the return of goods by customers. d. Determine the effect on the inventory account. e. Analyze the impact of the sale and return on the income statement and balance sheet.