Brief Exercise 5-3 Partially correct answer. Your answer is partially correct. Try again. Prepare the journal entries to record the following transactions on Wildhorse Co.s books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On March 2, Wildhorse Co. sold $947,600 of merchandise to Sandhill Co., terms 3/10, n/30. The cost of the merchandise sold was $534,200. (b) On March 6, Sandhill Co. returned $105,700 of the merchandise purchased on March 2. The cost of the merchandise returned was $68,600. (c) On March 12, Wildhorse Co. received the balance due from Sandhill Co.. No. Date Account Titles and Explanation Debit Credit (a) choose a transaction dateEntry field with correct answer enter an account title to record sale of merchandiseEntry field with incorrect answer Accounts Payable enter a debit amountEntry field with correct answer 947600 enter a credit amountEntry field with correct answer enter an account title to record sale of merchandiseEntry field with incorrect answer Inventory enter a debit amountEntry field with correct answer enter a credit amountEntry field with correct answer 947600 (To record sale of merchandise) choose a transaction dateEntry field with correct answer enter an account titleEntry field with incorrect answer Accounts Payable enter a debit amountEntry field with correct answer 534200 enter a credit amountEntry field with correct answer enter an account titleEntry field with correct answer Inventory enter a debit amountEntry field with correct answer enter a credit amountEntry field with correct answer 534200 (b) choose a transaction dateEntry field with correct answer enter an account title to record return of merchandiseEntry field with incorrect answer Inventory enter a debit amountEntry field with correct answer 105700 enter a credit amountEntry field with correct answer enter an account title to record return of merchandiseEntry field with incorrect answer Accounts Payable enter a debit amountEntry field with correct answer enter a credit amountEntry field with correct answer 105700 (To record return of merchandise) choose a transaction dateEntry field with correct answer enter an account titleEntry field with correct answer Inventory enter a debit amountEntry field with correct answer 68600 enter a credit amountEntry field with correct answer enter an account titleEntry field with incorrect answer Accounts Payable enter a debit amountEntry field with correct answer enter a credit amountEntry field with correct answer 68600 (c) March 12 enter an account title for the journal entry on March 12Entry field with incorrect answer Inventory enter a debit amount for the journal entry on March 12Entry field with incorrect answer 413400 enter a credit amount for the journal entry on March 12Entry field with correct answer enter an account title for the journal entry on March 12Entry field with correct answer Cash enter a debit amount for the journal entry on March 12Entry field with incorrect answer enter a credit amount for the journal entry on March 12Entry field with incorrect answer 400998 enter an account title for the journal entry on March 12Entry field with incorrect answer Accounts Payable enter a debit amount for the journal entry on March 12Entry field with correct answer enter a credit amount for the journal entry on March 12Entry field with incorrect answer 12402 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: 2 of 3 used SAVE FOR LATER SUBMIT ANSWER

Prepare the journal entries to record the following transactions on Wildhorse Co.'s books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) (b) (c) On March 2, Wildhorse Co. sold $947,600 of merchandise to Sandhill Co., terms 3/10, n/30. The cost of the merchandise sold was $534,200. on March 6, Sandhill Co. returned $105,700 of the merchandise purchased on March 2. The cost of the merchandise returned was $68,600. On March 12, Wildhorse Co. received the balance due from Sandhill Co.. No. Date Account Titles and Explanation Debit Credit (a) March 2 Accounts Payable 947600 Inventory 947600 (To record sale of merchandise) March 2 | Accounts Payable 534200 Inventory 534200 (b) March 6 Inventory 05700 Accounts Payable 105700 (To record return of merchandise) March 6 Y Inventory 68600 Accounts Payable 68600