on march 12 splish brothers inc. received the balance due from sheffield company

Prepare the journal entries to record the following transactions on Splish Brothers Inc's books using a perpetual inventory syste Your awer is correct On March 2.5pin Brothers Inc. sold 5971.000 of merchandise on account to Sheffield Company terms 2/90./30. The cost the merchandise sold was $611.000. (Credit accountiles are automatically indented when amount is entered. Do not indent manually. If no entry as required, select "No Entry for the accountitles and enter for the amount Account Titles and Explanation Debit Credit Account Rece 971.000 Sleeve (To record credit sale) Cost of Good 611.000 11.000 wory (To record cost of merchandise sold) e Textbook and Media List of Accounts Your awer is correct On March 6, Sheffield Company returned $97.100 of the merchandise purchased on March 2. The cost of the returned merchandise was $61,100. (Credit account titles are automatically indented when amount is entered Do not indent menu entry is required, select "No Entry for the accounts and enter for the amounts Account Titles and Explanation Debit Credit Sales Maturmand Allance 97.100 Acontece 2100 {To record merchandise retumed) Inventory 1,500 Cost of Goods Sold (To record cost of merchandise reumed) eTextbook and Media List of Accounts Your answer is partially correct On March 12. Splish Brothers inc received the balance due from Sheffield Company. (Credit accountiese automatically Indented when amunt is entered Do not indent menuly no entry is required, select "No Entry for the accounts and entero the amounts) Account Titles and Explanation Debit Credit Accounts Payable 372.900 LOO Cash