BE5-3 Cha Company buys merchandise on account from Wirtz Company. The selling price of the goods is $780, and the cost of the goods is $470. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies Journal invento (LO 2 BE5-4 Prepare the journal entries to record the following transactions on Novy Company's books using a perpetual inventory system. (a) On March 2, Novy Company sold $900,000 of merchandise to Opps Company, terms Jouna (LO 3) 2/10, n/30. The cost of the merchandise sold was $590,000. (b) On March 6, Opps Company returned $90,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $62,000. (c) On March 12, Novy Company received the balance due from Opps Company. Journ BE5-5 From the information in BE5-4, prepare the journal entries to record these trans- actions on Opps Company's books under a perpetual inventory system. transa LO 2) Prepa BE5-6 At year-end, the perpetual inventory records of Gutierrez Company showed mer- ny datarmined hosweter that its actual inven inven