(a) Your answer is correct. On March 2, Marigold Corp. sold $850,000 of merchandise on account to Sheffield Company, terms 2/10, n/30. The cost of the merchandise sold was $602,000. (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.) (b) Account Titles and Explanation Accounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold Inventory (To record cost of merchandise sold) eTextbook and Media List of Accounts Your Answer Correct Answer (Used) Debit Credit 850.000 602.000 850,000 602,000 Attempts: 1 of 5 used On March 6, Sheffield Company returned $85,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $60,200. (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.) (c) Account Titles and Explanation Sales Returns and Allowances Accounts Receivable (To record merchandise returned) Inventory Cost of Goods Sold (To record cost of merchandise returned) Your answer is partially correct. Debit 85.000 60.200 Credit 85.000 60,200 On March 12, Marigold Corp. received the balance due from Sheffield Company. (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 Sales Discounts Accounts Receivable Debit Credit