Question 1 Prepare the necessary journal entries to record the following transactions, assuming Eustace Company uses a perpetual inventory system (a) Eustace sells $45,000 of merchandise, terms 1/10, n/30. The merchandise cost $30,000. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Transactions Account Titles and Explanation Debit Credit To record cost of good sold.) To record goods returned.) To record cost of good returned.)