View Policies Show Attempt History Question Accounting Current Attempt in Progress Prepare the journal entries to record the following transactions on Wildhorse Ltd.'s books using a perpetual inventory system. Viewin Accountin Questi Accounti Your answer is correct. On March 2, Wildhorse Company sold 981,000 of merchandise on account to Swifty Company, terms 2/10, n/30. The cost of the merchandise sold was 658,000. (Credit account titles are automatically indented when 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.) Quest Account Ques Accour Account Titles and Explanation Accounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold Debit 981,000 658,000 Credit Ques Accou 981.000 Que Accom Qu 29 Acco Your answer is correct. On March 6, Swifty returned 113,000 of the merchandise purchased on March 2. The cost of the returned merchandise was 94,000. (Credit account titles are automatically indented when 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.) Account Titles and Explanation Sales Returns and Allowances Accounts Receivable. (To record merchandise returned) Inventory W Cost of Goods Sold (To record cost of merchandise returned) Debit 113,000 94,000 Credit 113,000 94,000 Your answer is partially correct. On March 12. Wildhorse received the balance due from Swifty. (Credit account titles are automatically indented when 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.) Account Titles and Explanation Cash Debit Credit 694,400 Sales Discounts Accounts Receivable Save for Later 694,400 868,000 Attempts: unlimited Submit Ansune