CALCULATOR PRINTER VERSION BACK Exercise 227 (Part Level Submission) June 4 Oriole Company purchased $8,600 worth of merchandise, terms 1/30 from Hayes Company. The cost of the merchandise was $5,900. 12 Oriole returned $560 worth of goods to Hayes for full credit. The goods had a cost of $370 to Hayes. 12 Oriole paid the account in full. Assume use of the perpetual inventory system for both companies. (b) Prepare the journal entries to record these transactions in Hayes' books. (Credit account eitles are automatically indented when the amount de entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Tities and Explanation Debit Credit . (To record credit sale) (To record cost of goods sold) . To record credit granted for returned goods) (To record cost of goods returned) (To record cash received on account) Click If you would like to show Work for this question: Oren Show Work