Accounting assistance - please help!!?

Question

Provide a discussion of the principles involved and all journal entries you would have as the seller in this case (fill in any missing assumptions that you need):

I purchased a ScanSnap from Newegg.com. The total invoice was $419 with shipping. It was paid by credit card. It came and it was for a Mac instead of an XP system. My ordering mistake. I returned it and they refunded all but $60 on the credit card and called the $60 a restocking fee.
Between those things, I re-ordered the correct XP version and it came with the total price, including shipping, of $414.
Also, Newegg offered a $50 rebate on this item which I would take advantage of.

I emailed Newegg and explained my ordering mistake and, as a regular customer, requested a waiver of the $60 restocking fee. It was granted and refunded on my credit card.

Answer 1

JEs from the seller's point of view:

I purchased a ScanSnap from Newegg.com. The total invoice was $419 with shipping. It was paid by credit card.
Dr AR 419
Cr Sales 419 (terms: FOB Shipping point)

Dr COGS xxx (cost price of ScanSnap)
Cr Inventory xxx (cost price of ScanSnap)

Dr Cash xxx
Dr Credit card charges xxx
Cr AR 419

It came and it was for a Mac instead of an XP system. My ordering mistake. I returned it and they refunded all but $60 on the credit card and called the $60 a restocking fee.
Dr Sales 419
Cr AP 359
Cr Restocking fee 60

Dr Inventory (cost of ScanSnap)
Cr COGS (cost of ScanSnap)

Dr AP 359
Cr Cash 359

Between those things, I re-ordered the correct XP version and it came with the total price, including shipping, of $414.
Dr AR 414
Cr Sales 414

Dr COGS (cost of XP)
Cr Inventory (cost of XP)

Also, Newegg offered a $50 rebate on this item which I would take advantage of.
Dr Sales rebate 50
Cr AR 50

Dr Cash xxx
Dr Credit card charges xxx
Cr AR 364

I emailed Newegg and explained my ordering mistake and, as a regular customer, requested a waiver of the $60 restocking fee. It was granted and refunded on my credit card.
Dr Restocking fee 60
Cr AP 60

Dr AP 60
Cr Cash 60

You could further split the sales of 419 and 414 into sales and shipping, but I didn't have the amt for shipping.