On March 2, Wildhorse Company sold $870,000 of merchandise on account to Swifty Company, terms 1/10,...

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On March 2, Wildhorse Company sold $870,000 of merchandise on account to Swifty Company, terms 1/10, n/30. The cost of the merchandise sold was $612,000. (List all debit entries before credit entries. 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 Accounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold Inventory (To record cost of merchandise sold) Debit 870000 612000 Credit 870000 612000 On March 6, Swifty Company returned $87,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $64,200. (List all debit entries before credit entries. 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 Sales Returns and Allowances Accounts Receivable (To record merchandise returned) Inventory Cost of Goods Sold (To record cost of merchandise returned) Debit 87000 64200 Credit 87000 64200 On March 12, Wildhorse Company received the balance due from Swifty Company. (List all debit entries before credit entries. 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 Debit Credit On March 2, Wildhorse Company sold $870,000 of merchandise on account to Swifty Company, terms 1/10, n/30. The cost of the merchandise sold was $612,000. (List all debit entries before credit entries. 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 Accounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold Inventory (To record cost of merchandise sold) Debit 870000 612000 Credit 870000 612000 On March 6, Swifty Company returned $87,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $64,200. (List all debit entries before credit entries. 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 Sales Returns and Allowances Accounts Receivable (To record merchandise returned) Inventory Cost of Goods Sold (To record cost of merchandise returned) Debit 87000 64200 Credit 87000 64200 On March 12, Wildhorse Company received the balance due from Swifty Company. (List all debit entries before credit entries. 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 Debit Credit