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Prepare the journal entries to record the following transactions on Whispering Winds Corp.'s books using a perpetual inventory system. On March 2, Martinez Company sold
Prepare the journal entries to record the following transactions on Whispering Winds Corp.'s books using a perpetual inventory system. On March 2, Martinez Company sold $869,000 of merchandise on account to Whispering Winds Corp., terms 3/10, n/30. The cost of the merchandise sold was $544,000. (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 o for the amounts.) Account Titles and Explanation Debit Credit LINK TO TEXT VIDEO TUTORIAL On March 6, Whispering Winds Corp. returned $86,900 of the merchandise purchased on March 2. The cost of the returned merchandise was $54,400. (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 0 for the amounts.) Account Titles and Explanation Debit Credit On March 12, Martinez Company received the balance due from Whispering Winds Corp.. (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 o for the amounts.) Account Titles and Explanation Debit Credit
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