Prepare journal entries to record the following sales transactions in Sandhill Company's books Sandhill uses a perpetual inventory system and the contract based approach to revere recognition Management estimates that 10% of sales will be returned by customers within the 10-day return period Febi 2 Sandhill sold $19,000 of merchandise to Kotter Company terms/30, FOB shipping point. The cost of the merchandise sold was $7.980 4 The correct company paid freight costs of $181 6 Kotter Company returned $1.900 of the merchandise purchased on February 2 because it was not needed. The cost of the merchandise returned was 5798.and it was restored to inventory Mar. 1 Sandhill received the balance due from Kotter. Date Account Titles and Explanation Debit Credit (To record sales on account.) Feb. 2 (To record cost of goods sold.) (To record credit for goods returned.) (To record cost of goods returned.)