CALCULATOR PRINTER VERSION BACK NEXT Do It! Review 5-03 On October 5, Kingbird Company buys merchandise on account from Whispering Winds Company. The selling price of the goods is $4,520, and the cost to Whispering Winds Company is $3,110. On October 8, Kingbird returns defective goods with a selling price of $730 and a fair value of $120. Record the transactions on the books of Whispering Winds 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.) Date Account Titles and Explanation Debit Credit (To record credit sales) I (To record cost of goods sold on account) (To record credit granted for receipt of returned goods) (To record fair value of goods returned) SUL