ne 2 1 Sold and shipped on account to Lowery Company, $6.880 (56,000 cost) of merchandise, with terms of 2/10, nv/30. 28 Lowery Company returned defective merchandise billed at $680 on June 21 (5610 cost. 30 Recelved from Lowery Company a check for full settlement of the june 21 transaction. Prepare the necessary journal entries for (a) Lamont, Inc., and (b) Lowery Company. Both companies use the perpetual inventory system LAMONT, INC. GENERAL JOURNAL Debit Credit June 21 Accounts Recevable Sales Revenue Sold merchandise to Lowery Company terms 2/10, no. 21 Cost of Goods Soled Invertory Cost of merchandise sold t0 Lowery Company 28 Sales Returns and Allowances ccounts Recevable Merchandise returned by Lowery Company 28 Inventory 610 Cost of Goods Sold 610 Cost of merchandise returned by Lowery Company 30 Cash F5 F10 4 0