18:05 Hide Timer Question 11 View Policies Current Attempt in Progress Prepare the journal entries to record the following transactions on Novak Company's books under a perpetual inventory system. On March 2. Wildhorse Company sold $916,000 of merchandise on account to Novak Company, terms 2/10, 1/30. The cost of the merchandise sold was $597.000. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit On March 6, Novak Company returned $91,600 of the merchandise purchased on March 2. The cost of the returned merchandise was $54,900. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Type here to search o 21 ei 12 M 4/24/202020 A 1 :11 PM 17:53 Hide Timer On March 6, Novak Company returned $91,600 of the merchandise purchased on March 2. The cost of the returned merchandise was $54,900. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit On March 12, Wildhorse Company received the balance due from Novak Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually Account Titles and Explanation Debit Credit Type here to search A 9 1:11 PM 24202020