Obj. 2 nted in the following Chapter 5 Accounting for Retail Businesses 11,760 EX 5-13 Sales-related transactions The debits and credits for five related transactions, (1) through (5), are presented in the T accounts. Assume the credit terms were 2/10, n/30. Sales (1) Accounts Receivable Cost of Goods Sold 11,760 (3) 1,470 (2) 7,000 10,290 Cash 10,290 (5) Inventory 900 (2) 7,000 Estimated Returns Inventory 900 Customer Refunds Payable 1,470 Describe each transaction. b. What was the invoice amount of the merchandise that was returned? (3)