Brief Exercise 5-5 Prepare the journal entries to record the following transactions on Metlock, Inc.'s books using a perpetual inventory system. On March 2, Monty Company sold $824,000 of merchandise on account to Metlock, Inc., terms 4/10, n/30. The cost of the merchandise sold was $559,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS On March 6, Metlock, Inc. returned $82,400 of the merchandise purchased on March 2. The cost of the returned merchandise was $55,900. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS