ment 4 Chapter 5 Question 6 of 6 View Policies < 6.67/20 Show Attempt History Current Attempt in Progress The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec 3 7 8 11 Bramble Ltd. sold goods to Sheffield Corp. for $76,500. terms n/15, FOB shipping point. The inventory had cost Bramble $40,700. Bramble's management expected a return rate of 3% based on prior experience. Shipping costs of $1,060 were paid by the appropriate company. Sheffield returned unwanted merchandise to Bramble. The returned merchandise has a sales price of $2,360, and a cost of $1,260. It was restored to inventory. Bramble received the balance due from Sheffield. (a) Your answer is correct I Record the above transactions in the books of Bramble (List all debit entries before credit entries Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account tiples and enter 0 for the amounts. Round answers to the nearest whole dollor, es. 5.275) Date Duc - 3 Account Titles and Explanation Acudures Robis Debit 76500 Credit T I