Sandhill Wholesalers uses a perpetual inventory system. Mar. Stellar Stores purchases $9,400 of merchandise for resale from Sandhill Wholesalers, terms 2/10, 1 n/30, FOB shipping point 2 The correct company pays S160 for the shipping charges. Stellar returns $1,100 of the merchandise purchased on March 1 because it was the wrong colour. Sandhill gives Stellar a S1,100 credit on its account. 3 21 Stellar Stores purchases an additional $11,500 of merchandise for resale from Sandhill Wholesalers, terms 2/10, n/30, FOB destination. The correct company pays $185 for freight charges. 22 23 Stellar returns $500 of the merchandise purchased on March 21 because it was damaged. Sandhill gives Stellar a S500 credit on its account. 30 Stellar paid Sandhill the amount owing for the merchandise purchased on March 1. Stellar paid Sundhill the amount owing for the merchandise purchased on March 21. 31 Additional information: Mar. 1 Sandhill's cost of the merchandise sold to Stellar was 54,100. 3 Sandhill's cost of the merchandise returned by Stellar was $480. As the merchandise was not damaged, it was returned to Sandhill's inventory. 21 Sandhill's cost of the additional merchandise sold to Stellar Stores was $5,016, Sandhill's cost of the merchandise returned by Stellar was $218. As the merchandise was 23 damaged, it was put in the recycling bin. Prepare Sandhill Wholesalers journal entries to record the sales transactions with Stellar. Remember to record the freight and cash receipt transactions as appropriate. (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 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record sales on account.) (To record cost of goods sold.) (To record credit for goods returned.) (To record cost of goods returned.) (To record sales on account.) (To record cost of goods sold.) (Cash payment for freight costs.) (To record credit for goods returned.) (Collection on account.) Mar. 31 (Collection on account.) Calculate Sandhill's net sales, cost of goods sold, and gross profit for these sales. Net sales $ Cost of goods sold $ Gross profit $