Journal Entries for Sale, Return, and Remittance-Perpetual System On October 14, the Patrick Company sold merchandise with an invoice price of $1,600 (51,350 cost with terms of 2/10, 1/30, to the Baxter Company. On October 18 $300 of the merchandise (S210 cost was returned because it was the wrong size. On October 24, the Patrick Company received a check for the amount due from the Baxter Company Required Prepare the journal entries for the Patrick Company using the perpetual inventory system. General Journal Date Description Credit Oct 14 Sold merchandise to Baxter Company terms 2/10 30 Cost of merchandise sold to Baxter Company Merchandise returned by Baxter Company Cost of merchandise returned by Barter Company 24 Remittance received from Baxter Company Type here to search CINCI General Journal Description Debit Credit Date Oct. 14 Sold merchandise to Baxter Company terms 2/10, n/30 Cost of merchandise sold to Baxter Company Merchandise returned by Baxter Company Cost of merchandise returned by Baxter Company 24 Cash Remittance received from Baxter Company Check Previous a Save Answers Type here to search