Newell Company completed the following transactions in October: Credit Sales Sales Returns Date Date Amount Oct. 3 Oct. 11 Oct. 17 Oct. 21 Oct. 23 Amount $600 1.700 5.000 1.400 2.300 Terms 2/10. n/30 3/10 n/30 1/10, n/30 2/10 n/60 2/10, 1/30 Oct. 14 Oct. 20 Oct. 23 Oct. 27 $400 1,000 200 400 Date of Collection Oct. 8 Oct. 16 Oct. 29 Oct. 27 Oct. 28 Prepare the journal entry for the following. (2) (3) Oct. 17 sale. The merchandise sold had a cost of $3,500. Oct. 23 sales return. The merchandise returned had a cost of $140. Oct. 28 collection. Newell uses a perpetual inventory system. Debit Credit No. Date Account Titles and Explanation Oct. (1) 17 (To record credit sale) (To record cost of good sold) (2) Oct. 23 (To record credit granted for returned goods) (To record cost of good returned) (3) Oct. 28