On March 12, Fret Company sold merchandise in the amount of $8,200 to Babson Company, with credit terms of 2/10, 1/30. The cost of the items sold is $4,700. Fret uses the perpetual inventory system and the net method of accounting for sales. On March 15, Babson returns some of the merchandise. The selling price of the returned merchandise is 5640 and the cost of the merchandise returned is $370. The entry or entries that Fret must make on March 15 is (are); Multiple Choice Credit Debit 627 Account Title Sales Returns and allowances Accounts Receivable Merchandise Inventory Cost of Goods Sold 627 370 370 Credit Account Title Sales Returns And A11cwances Accounts Receivable Debit 370 370 Credit Debit 627 Account Elle Sales Returns and AllowNCAA Accounts Receivable Merchandise Inventory Cost of Goods Sold 527 363 363 O Credit Debit 640 Account Title Accounts Receivable Sales Returns and Allowances Cost of Goods Sold Merchandise Inventory 640 370 370 Credit Account Fille Accounts Receivable Sales Returns and allowances Debit 640 540