On July 2, 2021, Whispering Company sold to Sue Black merchandise having a sales price of $14,700(cost$8,820) with terms of 2/10. n30. fo.b. shipping point. Whispering estimates that merchandise with a sales value of $780 will be returned. An invoice totaling 5110 , terms n/30, was recelved by Black on July 6 from Pacific Delivery Service for the freight cost. Upon receipt of the goods, on July 3. Black notifed Whispering that $400 of merchandise contained flaws. The same day. Whispering issued a credit memo covering the defective merchandise and asked that it be returned at Whispering's expense. Whispering estimates the returned items to have a fair value of $130. The freight on the returned merchandise was $20 paid by Whispering on July 7 . On July 12 , the compary received a check for the balance due from Black. Prepare journal entries for Whispering Company to record all the events noted above assuming sales and receivables are entered at gross selling price. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record. journal entries in the order presented in the problem.) Prepare the journal entry assuming that Sue Black did not remit payment until August 5. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)