On March 12, Fret Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Fret uses the perpetual inventory system and the gross method of accounting for sales. The journal entry or entries that Fret will make on March 12 is (are): Multiple Choice Account Title Debit Credit Sales 7,800 Accounts Receivable 7,800 Account Title Debit Credit Sales 7,800 Accounts Receivable: 7,800 Cost of Goods Sold 4,500 Merchandise Inventory 4,500