The following transactions are for Sandhill Company. 1. On December 3, Sandhill Company sold $600,000 of merchandise to Wildhorse Co. on account. The cost of the merchandise sold was $396,000. 2. On December 8 , Wildhorse Co. returned $30,000 of merchandise purchased on December 3. The cost of the goods was $19,200. 3. On December 13, Sandhill Company received the balance due from Wildhorse Co. Prepare a tabular summary to record these transactions for Sandhill Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses require a negative sign or parentheses. - Reductions in revenues require a negative sign or parentheses. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline & & & & & Assets & & & = & \\ \hline & & & Cash & + & Accts.Rec. & + & Inventory & = & \\ \hline Dec. & 3 & $ & i & $ & 600,000 & $ & i & $ & \\ \hline & & & & & & & 396,000 & & \\ \hline & 8 & & & & 30,000 & & & & \\ \hline & & & i & & i & & 19,200 & & \\ \hline & 13 & & 570,000 & & 570,000 & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Common Stock } & \multicolumn{5}{|c|}{ Retained Earnings } \\ \hline & + & Rev. & - & Exp. & \\ \hline i & $ & 600,000 & $ & i & Sales revenue \\ \hline & & & & 396,000 & Cost of goods sold \\ \hline & & 30,000 & & & Sales returns \& allowances \\ \hline i & & i & & 19,200 & Cost of goods sold \\ \hline & & & & & \\ \hline \end{tabular}