prepare the journal entries to record the following transactions on splish brothers inc.'s books using a perpetual inventory system.

Prepare the journal entries to record the following transactions on Splish Brothers Inc's books using a perpetual inventory system On March 2, Splish Brothers Inc. sold $971,000 of merchandise on account to Sheffield Company, terms 2/10,n/30. The cost of the merchandise sold was $611,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) e Textbook and Media List of Accounts On March 6, Sheffield Company returned $97,100 of the merchandise purchased on March 2. The cost of the returned merchandise was $61,100. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To record merchandise returned) (To record cost of merchandise returned)