On October 2, 2020, Riverbed Company sold $6,520 of its elite camping gear (with a cost of $3.240 ) to Lynch Outfitters. As part of the sales agreement. Riverbed includes a provision that if Lynch is dissatisfied with the product, Riverbed will grant an allowance on the 5ales price or agree to take the product back (although returns are rare, given the long-term relationship between Riverbed and Lynch). Riverbed expects total allowances to Lynch to be $800. On October 16 , 2020, Riverbed grants an allowance of $390 to Lynch because the color for some of the items delivered was a bit different than what appeared in the catalog. (a) Prepare journal entries for Riverbed to record (1) the sale on October 2, 2020, (2) the granting of the allowance on October 16 , 2020, and. (3) any adjusting required on October 31, 2020 (when Riverbed prepares financial statements). Riverbed now estimates additional allowances of $240 will be granted to Lynch in the future. (Credit account titles are outomatically indented when the 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.) (Torecord cost of goods sold) (2) (To record allowance) (3) (To record estimated remaining allowances) eTextbookand Media Uist of Accounts Sive for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above