LoCo, which uses the periodic method, purchases merchandise on account for $56,000, F.O.B. shipping point. Freight charges are $900 C.O.D. LoCo should record these purchases as ellipsis PiCo uses the perpetual method. On February 17, PiCo sells $30,000 in merchandise on account that cost $10,000. On February 23, 10% of these goods are returned. Prepare the entry that Pico makes on February 23 to record the sales return