Question: Do It! Review 5-02 50 Your answer is partially correct. Try again. On October 5, Kingbird, Inc. buys merchandise on account from Whispering Winds Company.

Do It! Review 5-02 50 Your answer is partially correct. Try again. On October 5, Kingbird, Inc. buys merchandise on account from Whispering Winds Company. The selling price of the goods is $5,000, and the cost to Whispering Winds Company is $3,110. On October 8, Kingbird returns defective goods with a selling price of $720 and a fair value of $110. Record the transactions on the books of Kingbird, Inc. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, sele "No Entry for the account tities and enter for the amounts. Record journal entries in the order presented in the problem.)

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