Brief Exercise 5-04 a-c (Part Level Submission) Prepare the journal entries to record the following transactions on Carla Vista Company's books using a perpetual inventory system. (a) Your answer is correct. On March 2, Carla Vista Company sold $926,000 of merchandise on account to Martinez Company, terms 2/10, n/30. The cost of the merchandise sold was $605,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Accounts Receivable 926000 Sales Revenue 926000 (To record credit sale) Cost of Goods Sold 605000 Inventory 605000 (To record cost of merchandise sold) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Attempts: 1 of 5 used Attempts: 1 of 5 used (b) Your answer is correct. On March 6, Martinez Company returned $92,600 of the merchandise purchased on March 2. The cost of the returned merchandise was $54,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Sales Returns and Allowances 92600 Accounts Receivable 92600 (To record merchandise returned) Inventory 54000 Cost Goods Sold 54000 (To record cost of merchandise returned) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Attempts: 2 of 5 used LINK TO TEXT Attempts: 2 of 5 used (c) Your answer is partially correct. Try again. On March 12, Carla Vista Company received the balance due from Martinez Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash 8000064 Sales Discounts 333360 Accounts Receivable 833400 833400 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT Attempts: 1 of 5 used