Current Attempt in Progress

On October $5,$ Metlock Company buys merchandise on account from Grouper Company. The selling price of the goods is $\backslash (\backslash$$ $4,700\backslash ),$ and the cost to Grouper Company is $\backslash (\backslash$$ $2,770\backslash ).$ On October $8,$ Metlock returns defective goods with a selling price of $\backslash (\backslash$$ $740\backslash )$ and a fair value of $\backslash (\backslash$$ $250\backslash ).$

Record the transactions on the books of Grouper Company. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

$($To record credit sales$)$

$($To record cost of goods sold$)$

$($To record credit granted for receipt of returned goods$)$

$($To record fair value of goods returned$)$