Question 3 --/1.5 View Policies Current Attempt in Progress On October 5, Grouper Corporation buys merchandise for resale on account from Monty Corporation. The selling price of the goods is $5,080, and the cost to Monty Company is $3,270. On October 8, Grouper returns defective goods with a selling price of $670 and a cost of $260. It is anticipated that these goods can be resold at a discount at some point in the future for at least their cost of $260, if not more. Both companies use a periodic inventory system. (a) Record the transactions on the books of Grouper Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit Oct. 5 8