On March 2,SunlandCompany sold $883,000of merchandise on account toCulverCompany, terms2/10, n/30. The cost of the merchandise sold was $619,000.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation Debit Credit

Accounts Receivable 883,000

Sales Revenue 883,000

(To record credit sale)

Cost of Goods Sold 619,000

Inventory 619,000

(To record cost of merchandise sold)

On March 6,CulverCompany returned $88,300of the merchandise purchased on March 2. The cost of the returned merchandise was $61,800.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

account Titles and Explanation Debit Credit

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(To record merchandise returned)

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(To record cost of merchandise returned)

On March 12,SunlandCompany received the balance due fromCulverCompany.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation Debit Credit

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