Question 1 of 4 .12 Date Account Titles and Explanation Debit Credit (To record sale of merchandise on account) (To record cost of goods sold) (To record return of merchandise) (To record cost of goods returned) Prepare the journal entries to record the following transactions on Blossom Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account tities and enter O for the amounts, Credit account titles are automatically indented when amount is entered, Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) (a) On March 2, Blossom Company sold $853,600 of merchandise to Kingbird Company on account, terms 3/10, n/30, The cost of the merchandise sold was $540,300. (b) On March 6, Kingbird Company returned $114.200 of the merchandise purchased on March 2. The cost of the merchandise returned was $68,200 (c) On March 12, Blossom Company received the balance due from Kingbird Company