Brief Exercise 5-04 a-c Prepare the journal entries to record the following transactions on Sunland Company's books using a perpetual inventory system. On March 2, Sunland Company sold $883,000 of merchandise on account to Culver Company, terms 2/10, n/30. The cost of the merchandise sold was $619,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) On March 6, Culver Company returned $88,300 of the merchandise purchased on March 2. The cost of the returned merchandise was $61,800. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record merchandise returned) (To record cost of merchandise returned) On March 12, Sunland Company received the balance due from Culver Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit