Help Save & Exit Submit 21 TB MC Qu. 04.45 Galaxy Company sold merchandise costing... Galaxy Company sold merchandise costing $3.300 for $5.600 cash. The merchandise was later returned by the customer for a refund. The company uses the perpetual inventory system. What effect will the sales return have on the financial statements? (Consider the effects of both parts of this event) 3.75 points 8103 Mutiple Choice Book Total assets and total stockholders' equity increase by $7.300 References Total assets and total stockholders equity decrease by $2.300 Total assets and total stockholders equity decrease by $5.600 Total assets decrease by $5.600 and total stockholders couly decreases by $3.300