Parker Corporation is a manufacturing company that sells goods to wholesale companies. The customers have to pay at the time of sale by credit card or within 15 days. Parker's cost of goods sold is 40% of its sales. Click the icon to see the transactions that occurred during March: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record Parker's transactions, including the cost of goods sold entry for each sale. (Use the gross method to record the sales transactions. Record debits first, then credits. Exclude explanations from any journal entries. Round to the nearest whole dollar) March 3: Sold $20,000 of merchandise to Wacht Company on account. Do not record the cost of goods sold entry yet. W More Info - Journal Entry Date Mar 3 Accounts Accounts Receivable-Wacht Sales Revenue Debit Credit 20000 March 3 March 4 20000 Now record the cost of goods sold for the sale of merchandise on March 3. Journal Entry March 5 March 7 March 15 March 19 March 21 Choose from any list or enter any number in the input fields and then continue to the next question. March 23 March 25 Sold $20,000 of merchandise to Wacht Company on account. Sold $1,500 of merchandise to Yanda Corp., who paid by credit card. The credit card company charges Parker a fee of 3% on credit card sales. Wacht Company returned $900 of the merchandise from March 3. Sold $200 of merchandise to Macoy, Inc., on account. Wacht Company paid the balance of what it owed for the purchase on March 3. Sold $19,000 of merchandise to Zimba Co. on account. Zimba reported that some of the merchandise received was scratched and returned $1,300 worth of merchandise to Parker. Sold $33,000 of merchandise to Nesbits Co. on account. Zimba paid the balance of what it owed for the purchase on March 19. March 31 Parker made the adjusting entries for the month to accrue for estimated future returns. Parker estimates that 4% of total sales will be returned.