Brief Exercise 5-3 Prepare the journal entries to record the following transactions on Novak Corp.'s books using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) on March 2, Novak Corp. sold E758,000 of merchandise to Edgebrook Company, terms 2/10, n/30. The cost of the merchandise sold was E524,000. Account Tities and Explanation Debit Credit (To record the sale) (To record cost of merchandise sold) (b) on March 6, Edgebrook Company returned 113,700 of the merchandise purchased on March 2. The cost of the returned merchandise was 76,064 Account Titles and Explanation Debit Credit (To record merchandise returned) (To record cost of merchandise returned) (To record cost of merchandise returned) (c) on March 12, Novak Corp. received the balance due from Edgebrook Company. (Round answers to o decimal places, e.g. 125.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT