Under contract, ABC Corporation delivers 500 units to Customer A for $200 each on 1 March. ABC's documented policy is to allow a customer to return any unused product within 30 days and receive a full refund. The cost of each product is $150. ABC expects that the returned products can be resold. On March 15^th, the customer returned 8 units to ABC. No other returns were received during the month.
Required:
Record all of ABC Inc' journal entries for the month, assuming that ABC cannot reasonably estimate the amount of returns on March 15th.

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The Answer of Under contract, ABC Corporation delivers 500 units to Customer A for $200 each on 1 March. ABC's documented policy is to allow a customer to return any unused product within 30 days and receive a full refund. The cost of each product is $150. ABC expects that the returned products can be resold. On March 15^th, the customer returned 8 units to ABC. No other returns were received during the month. Required: Record all of ABC Inc' journal entries for the month, assuming that ABC cannot reasonably estimate the amount of returns on March 15th.

Under Contract, ABC Corporation Delivers 500 Units to Customer a for $200