Based on the information below, journalize the entries for the seller and the buyer. Both use a perpetual inventory system.
(a)Seller sold merchandise on account to the buyer, $4,750, terms 2/10, net 30, FOB shipping point. The cost of the merchandise is $2,850. The seller prepays the freight of $75.
(b)Buyer returns $700 of merchandise as defective. The cost of the merchandise is $420.
(c)Buyer pays within the discount period. 
Definitions:
Empathic Understanding
The ability to comprehend and respond to the feelings and experiences of others, seeing things from their perspective and reacting with emotional sensitivity.
Virtual Reality Therapy
A treatment method using virtual reality technology to simulate real-life situations for therapeutic purposes.
Operant Conditioning
A strategy for learning that shapes behavior through the offering of rewards or the application of detractions.
Systematic Desensitization
A behavioral therapy technique aimed at reducing a subject's response to a phobia or anxiety-provoking stimulus by gradually exposing them to the stimulus in a controlled manner.
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