Prepare general journal entries, without explanations, for the merchandising transactions listed below for Lowell Company. Assume Lowell uses the perpetual inventory system the cost of the goods is $900 sales 500 Cost of god sold 300 MInventv goo May 3 Gave credit to Cento Company for merchandise returned $100 and the cost of the merchandise returned is $75. Stles Return loo Acc o le merchanolise Inventory 75 Cost of ood sold May 10 Received amount owed from Cento Company for the balance of the May 1 purchase less the May 3rd return and any discount allowed