Prepare the journal entries to record the following transactions on Cullumber Company's books using a perpetual...

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Prepare the journal entries to record the following transactions on Cullumber Company's books using a perpetual inventory system. (a) Your answer is correct. On March 2, Cullumber Company sold $860,000 of merchandise on account to Bramble Company, terms 1/10, n/30. The cost of the merchandise sold was $567,000. (List all debit entries before credit entries. 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 O for the amounts.) Account Titles and Explanation Debit Credit Accounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold Inventory 860000 567000 860000 567000 Prepare the journal entries to record the following transactions on Cullumber Company's books using a perpetual inventory system. (a) Your answer is correct. On March 2, Cullumber Company sold $860,000 of merchandise on account to Bramble Company, terms 1/10, n/30. The cost of the merchandise sold was $567,000. (List all debit entries before credit entries. 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 O for the amounts.) Account Titles and Explanation Debit Credit Accounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold Inventory 860000 567000 860000 567000