a. Prepare general journal entries, without explanations, for the merchandising transactions listed below for Lowell Company. Assume Lowell uses the perpetual inventory system May 1 Sold merchandise to Cento Company for S$1,200 terms 3/10,n/30, the cost of the goods is $900 sa les 500 ost of god sold 3oo MTnvento goo May 3 Gave credit to Cento Company for merchandise returned S100 and the cost of the merchandise returned is $75. 105 Sales Return 1oo loo Acc ble merchanolise Anventor Cost of good sold 75 May 10 Received amount owed from Cento Company for the balance of the May 1 purchase less the May 3rd return and any discount allowed