Feathertouch Company sold merchandize worth $800 on credit, terms n/15 and on the next day the customer returned merchandize worth $50, which cost $30 for Feathertouch company. What is the required journal entry to record the merchandize returns under the perpetual inventory system? 
Definitions:
Economic Prosperity
A state of economic health and stability in a country or region, characterized by strong growth, high employment rates, and rising living standards for its citizens.
Real GDP
The calculation of a nation's economic productivity after accounting for variations in prices, either through inflation or deflation, illustrating the true amount of goods and services generated.
Malthus
Refers to Thomas Robert Malthus, an English economist and demographer best known for his theory that population growth will outpace agricultural production, leading to widespread famine and hardship.
Outward-Oriented Policies
Economic policies aimed at promoting international trade and investment, as opposed to inward-looking strategies focusing on domestic markets.
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