Prepare General Journal entries to record the following perpetual system merchandising transactions of The Jewelry Depot. Use a separate account for each receivable and payable. Mar 1 Sold merchandise to Mckay Company for $45.000 under credit terms 2/15. n/60, FOB destination. The merchandise had cost $23.500 3 Paid $235 shipping charges related to the March 1 sale to McKay Company. 6 McKay Company returned merchandise from the March 1 sale that had cost $4,700 and been sold for $8,000. The merchandise was restored to Inventory. 16 Received the balance due from McKay Company for the March 1 sale. Short Answer Toolbar navigation y s A