Question 2 of 4 - / 15 View Policies Current Attempt in Progress The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 7 Marigold Ltd. sold goods to Martinez Corp. for $67,400, terms n/15, FOB shipping point. The inventory had cost Marigold $35,800. Marigold's management expected a return rate of 3% based on prior experience. Shipping costs of $920 were paid by the appropriate company. Martinez returned unwanted merchandise to Marigold. The returned merchandise has a sales price of $2,080, and a cost of $1,120. It was restored to inventory. Marigold received the balance due from Martinez. 8 11 (a) Record the above transactions in the books of Marigold. (List all debit entries before credit entries. Credit account titles are automatically indented when the 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. Round answers to the nearest whole dollar, e.g. 5,275.) Date Account Titles and Explanation Debit Credit * Optional Assignment Question 2 of 4 - / 15 III (To record credit sale) (To record cost of merchandise sold) (To record return of goods) (To record cost of merchandise returned)