Prepare the journal entries to record the following transactions on Acme Home Company's books using a perpetual inventory system. On February 6, Acme sold $105,000 of merchandise to A1 Interiors Company, terms 2/10, net /30. The cost of the merchandise sold was $70,000. On February 8, A1 returned $14,000 of the merchandise purchased on February 6. The cost of the merchandise returned was $9,000. On February 16, Acme received the balance due from A1.

Prepare the journal entries to record the following transactions on Acme Home Company's books using a perpetual inventory system. On February 6, Acme sold $105,000 of merchandise to A1 Interiors Company, terms 2/10, net /30. The cost of the merchandise sold was $70,000. On February 8, A1 returned $14,000 of the merchandise purchased on February 6 . The cost of the merchandise returned was $9,000. On February 16, Acme recelved the balance due from A1