Journalize the following transactions for M & M Entertainment using the periodic inventory system.

• May 7 M & M Entertainment sold $20,800 of merchandise on account, credit terms 3/15, n/EOM.
• May 13 M & M Entertainment received a return of $3,000 for defective goods from the customer.
• May 20 M & M Entertainment receives payment from the customer on the amount due, less the return and discount.

Journal

Date	Description	Debit	Credit
May 7	A/PA/RCOGSCashInventory ExpenseMerchandise InventoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales Revenue
May 7	A/PA/RCOGSCashInventory ExpenseMerchandise InventoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales Revenue
May 13	A/PA/RCOGSCashInventory ExpenseMerchandise InventoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales Revenue
May 13	A/PA/RCOGSCashInventory ExpenseMerchandise InventoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales Revenue
May 20	A/PA/RCOGSCashInventory ExpenseMerchandise InventoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales Revenue
May 20	A/PA/RCOGSCashInventory ExpenseMerchandise InventoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales Revenue
May 20	A/PA/RCOGSCashInventory ExpenseMerchandise InventoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales Revenue