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Prepare the journal entries to record the following transactions on Cullumber Company's books using a perpetual inventory system. On March 2, Whispering Winds Company sold

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Prepare the journal entries to record the following transactions on Cullumber Company's books using a perpetual inventory system. On March 2, Whispering Winds Company sold $801,000 of merchandise on account to Cullumber Company, terms 2/10, n/30. The cost of the merchandise sold was $521,000. (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 Ofor the amounts.) Account Titles and Explanation Debit Credit I e Textbook and Media List of Accounts On March 6, Cullumber Company returned $80,100 of the merchandise purchased on March 2. The cost of the returned merchandise was $52,100. (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 Ofor the amounts.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts On March 12, Whispering Winds Company received the balance due from Cullumber Company. (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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