Brief Exercise 5-3 Prepare the journal entries to record the following transactions on Cullumber Company's books using a perpetual inventory system. (If no entry is require titles and enter O for the amounts. Credit account titles are in the problem.) (a) On March 2, Cullumber Company sold $914,000 of merchandise to Oriole Company, terms 3/10, n/30. The cost of the merchandise sold was $592,400 (b) On March 6, Oriole Company returned $104,600 of the merchandise purchased on March 2. The cost of the merchandise returned was $64,400. (c) On March 12, Cullumber Company received the balance due from Oriole Company. automatically indented when amount is entered. Do not indent manually. Record No. Date Account Titles and Explanation Debit Credit (To record sale of merchandise) (To record return of merchandise) (c) March 12