On March $6,$ Blue Spruce Company returned $$88,300$ of 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. If no entry is required, select $"$No Entry" for the account titles

and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

$($To record merchandise returned$)$

$($To record cost of merchandise returned$)$

$($c$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

Prepare the journal entries to record the following transactions on Oriole Company$$s books using a perpetual inventory system.

On March $2,$ Oriole Company sold $$883,000$ of merchandise on account to Blue Spruce Company, terms $2/10,$ n$/30.$ The cost of the merchandise sold was $$618,000.($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

On March $6,$ Blue Spruce Company returned $$88,300$ of the merchandise purchased on March $2.$ The cost of the returned merchandise was $$61,800.$

On March $12,$ Oriole Company received the balance due from Blue Spruce Company.