On March 12, Klein 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. Klein uses the perpetual inventory system and the net method of accounting for sales. On March 15, Babson returns some of the merchandise, which is not defective. The selling price of the returned merchandise is $600 and the cost of the merchandise returned is $350. The entry or entries that Klein must make on March 15 is (are): Multiple Choice Debit Credit 588 Account Title Sales Returns and Allowances Accounts Receivable Merchandise Inventory Cost of Goods Sold 588 350 350 O Credit Account Title Sales Returns and Allowances Accounts Receivable Debit 588 588 Credit Debit 588 Account Title Sales Returns and Allowances Accounts Receivable Merchandise Inventory Cost of Goods Sold 588 350 350 Credit Debit 588 Account Title Sales Returns and Allowances Accounts Receivable Merchandise Inventory Cost of Goods Sold 588 343 343 Credit Account Title Accounts Receivable Sales Returns and Allowances Debit 600 600 o Credit Debit 600 Account Title Accounts Receivable Sales Returns and Allowances Cost of Goods Sold Merchandise Inventory 600 350 350