View Policies Current Attempt in Progress Sunland Wholesalers uses a perpetual inventory system. Stellar Stores purchases $9.100 of merchandise for resale from Sunland Wholesalers, terms 2/10, n/30. FOB shipping point. Mar 1 2 The correct company pays $160 for the shipping charges. 3 21 Stellar returns $1,000 of the merchandise purchased on March 1 because it was the wrong colour. Sunland gives Stellar a $1,000 credit on its account Stellar Stores purchases an additional $13.000 of merchandise for resale from Sunland Wholesalers, terms 2/10, 1/30 FOB destination. 22 The correct company pays $195 for freight charges 23 Stellar returns $300 of the merchandise purchased on March 21 because it was damaged, Sunland gives Stellar a $300 credit on its account 30 Stellar paid Sunland the amount owing for the merchandise purchased on March 1 31 Stellar paid Sunland the amount owing for the merchandise purchased on March 21 Additional information Question 9 of 11 31 stear para somiana the amount owing for the merchanone purchased on marc Additional information 17 E Mar T Sunland's cost of the merchandise sold to Stellar was $3.900 3 21 23 Sunland's cost of the merchandise returned by Stellar was $429. As the merchandise was not damaged. It was returned to Sunland's inventory Susband's cost of the additional merchandise sold to Stellar Stores was $5.571. Sunland's cost of the merchandise returned by Stellar was $129. As the merchandise was damaged it was put in the recycling bin Prepare Sunland Wholesalers journal entries to record the sales transactions with Stellar Remember to record the freight and concept transactions as appropriate (Credit account titles are outumatically indented when the amount is entered. De not indent manually if no entry is required, select "No Entry for the account titles and enter O for the amounts Recond journal entries in the ander presented in the problem Date Account Titles and Explanation Debit Credit Question 9 of 11 < Date Account Titles and Explanation Debit M2 M3 Merchandise inventory Accounts Payable (To record sales on account.) Merchandise vertory Cash (To record cost of goods sold.) Accounts Payable Merchandise inventory 9100 160 1000 Mx21- Montander tory 13000 Accounts Payable -17 E Credit 930 50 1000 1300