Good sold in 2014 and returned in 2015

RAVIKUMAR (STUDENT) (108 Points)

25 November 2015  

Goods worth 5000 are sold in Dec 2014. The cost of these goods is 3000. Books are closed for 2014 and in Jan 2015 all these goods are returned by the customer. Are my entries below correct? Pls advise. 

When goods sold: 

dr AR 5000

cr sales 5000

dr Cost of sales 3000

cr Inventory 3000

when goods are returned in Jan 2015

Just reverse the above entries (is it correct to it this way?)