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Current Attempt in Progress On October 5, Flounder Corporation buys merchandise for resale on account from Novak Corporation. The selling price of the goods is $4,560, and the cost to Novak Company is $2.850. On October 8. Flounder returns defective goods with a selling price of $690 and a cost of $270, it is anticipated that these goods can be resold at a discount at some point in the future for at least their cost of $270, if not more. Both companies use a periodic inventory system (a) Your answer is partially correct Record the transactions on the books of Novak Corporation. (Credit account title or no cal indented when the amounts entered. Do not indent manually. If no entry is required, select "No Entry for the account title and enter for the amounts) Debit Date Account Titles and Explanation Oct. 5 Come Goods Sold Credit 250 8 Inventory 270 Cost of Goods Sold 220 eTextbook and Media