Prepare the journal entries to record the following sales transactions in Culver Corp's books. Culver uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Jan. 2 5 Culver sold $50,000 of goods to Xtra Inc. terms 1/45, FOB destination. The cost of the goods sold vias $28,000. Culver expected a return rate of 15%. The appropriate company paid freight costs of $1.000. Xtra returned $6,200 of the merchandise purchased from Culver on January 2, because it was not needed. The cost of the merchandise returned was $3,472, and it was restored to inventory. Culver received the balance due from Xtra. 6 11 Date Account Titles and Explanation Debit Credit Jan, 2 (To record credit sale) 2 (To record cost of goods sold) 5 6 (To record return of goods) 6 (To record cost of goods returned) 11