Question 1 abular summary to record the following transactions for Oriole Company using a perpetual inventory system a) On March 2, Oriole Company sold $878,600 of merchandise b) On March &, Ivanhoe Company c) On March 12, Oriole Company received the balance due from Ivanhoe Company. to lvanhoe Company on account. The cost of the merchandise sold was $562.200 returned $118,800 of the merchandise purchased on March 2. The cost of the merchandise returned was $61,000 (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es (45) Assets Liabilities Cash Accts. Rec Inv. Accts. Pay. + Common Stock a) Mar. 2 $ b) c) 12 MacBook Air 0 r Oriole Company using a perpetual inventory system ise to lvanhoe Company on account. The cost of the merchandise sold was $562,200. merchandise purchased on March 2. The cost of the merchandise returned was $61,000. om Ivanhoe Company ing the number eg. -45 or parentheses e (45) Stockholders Equity Retained Earnings +Common Stock Rev Exp