HIS. **BE5.18 (LO 8) AP Prepare journal entries to record the following sales transactions in Trig Compa- ny's books. Trig uses a perpetual inventory system and the contract-based approach to revenue rec- ognition. Management estimates that 10% of sales will be returned by customers within the 10-day return period. Feb. 2 Trig sold $16,000 of merchandise to Kotter Company, terms n/30, FOB shipping point. The cost of the merchandise sold was $6,400. The correct company paid freight costs of $215. Kotter Company returned $1,600 of the merchandise purchased on February 2 because it was not needed. The cost of the merchandise returned was $640, and it was restored to inventory. Mar. 1 Trig received the balance due from Kotter. **BE5.19 (LO 8) AP Prepare journal entries to record the following sales transactions in Arturo Compa-

44 BE5.18 (LO 8) AP Prepare journal entries to record the following sales transactions in Trig Company's books. Trig uses a perpetual inventory system and the contract-based approach to revenue recognition. Management estimates that 10% of sales will be returned by customers within the 10 -day return period