The debits and credits for five related transactions, A through E, are presented in the following T accounts. Describe each transaction.

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A D с Cash 39,200 Accounts Receivable 41,160 C E Inventory B Estimated Returns Inventory D Customer Refunds Payable 1,960 1,200 1,960 39,200 25,200 1,200 Sales A Cost of Goods Sold 25,200 41,160 A D с Cash 39,200 Accounts Receivable 41,160 C E Inventory B Estimated Returns Inventory D Customer Refunds Payable 1,960 1,200 1,960 39,200 25,200 1,200 Sales A Cost of Goods Sold 25,200 41,160