Exercise 6-2 The following transactions are for Sandhill Company 1. On December 3, Sandhill Company sold $475,800 of merchandise to Wildhorse Co. on account. The cost of the merchandise sold was $326,400. 2. On December 8, Wildhorse Coreturned $22,200 of merchandise purchased on December 3. The cost of the goods was $16,000. 3. On December 13, Sandhill Company received the balance due from Wildhorse Co. Prepare a tabular summary to record these transactions for Sandhill Company using a perpetual inventory system. (Enter negative amounts using elther a negative sign preceding the number e.g.-45 or parentheses e.g. (45) Stockholders Equity Assets -Liabilities + Retained Earnings Common Cash -Accts. PayStock + Accts. Rec. +Inv. Exp. Dec. 3 Sales revenue Cost of goods sold Sales returns & allowances Cost of goods sold 13