On March 12, Fret Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2/10, 1/30. The cost of the items sold is $4,500. Fret uses the perpetual inventory system and the gross method of accounting for sales. On March 15, Babson returns some of the merchandise The selling price of the returned merchandise is $600 and the cost of the merchandise returned is $350. The entry or entries that Fret must make on March 15 is (are) Multiple Choice Debit 600 Credit Account Title Accounts Receivable Sales Returns and Allowances Cost of Goods sold Merchandise Inventory 600 350 350 Credit Account Title Account Receivable Sa168 Returns and Allowances Debit 600 600 Credit Account Title Sales Returns and Allowances Mccounts Receivable Debit 500 600 Credit Debit 600 Account Title Accounts Receivable Sales Returns and Allowances Cost of Goods Sold Merchandise Inventory 600 350 350 Credit Account Title Accounts Receivable Sales Returns and Allowances Debit 600 600 Credit Account Title Sales Returns and Allowances Accounts Receivable Debit 600 600 Credit Debit 600 Account Title Sales Returns and Allowances Accounts Receivable Merchandise Inventory Cost of Goods Sold 600 350 350 Credit Account Title Sales Returns and Allowances Accounts Receivable Debit 350 350