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Patty Corp., a public company, delivers 3,200 units to a customer on 1 April for $80 /unit. Patty Corp. has a return policy where they allow any customer to return any unused product within 45 days and receive a full refund. The cost of each product is $64. Based on historical experience Patty estimates that customer will return 2% of the units sold. Patty expects to be able to resell any returned goods. Assume that 50 products are returned on 2 May. No additional units are returned by 15 May (the end of the return period). Required: Prepare the journal entries related to the sale of products. (If no entry is required for a transaction/event, select "No j (urnal entry required" in the first account field.) Journal entry worksheet 56 Prepare the journal entry required on 1 April to record the sale: Note: Enter debits before credits. Journal entry worksheet Prepare the journal entry required on 1 April to record the cost of goods sold: Journal entry worksheet 6 Prepare the journal entry required on 2 May to record any adjustments required to the refund liability: Journal entry worksheet 1 Prepare the journal entry required on 2 May to record any adjustments required to inventory: Note: Enter debits before credits. Journal entry worksheet Prepare the journal entry required on 15 May to record any adjustments required to sales revenue: Journal entry worksheet Prepare the journal entry required on 15 May to record any adjustments required to cost of goods sold: Note: Enter debits before credits

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