.Qulz 5xved Help Save & Exit Submit On March 12, Klein Company sold merchandise in the amount of $8,600 to Babson Company, with credit terms of 2/10, 1/30. The cost of the items sold is $4,900. Klein uses the perpetual inventory system and the net method of accounting for sales. On March 15, Babson returns some of the merchandise, which is not defective. The selling price of the returned merchandise is $680 and the cost of the merchandise returned is $390. The entry or entries that Klein must make on March 15 is (are): 11 Multiple Choice 666 666) Sales returns and allowances Accounts receivable Merchandise inventory Cost of goods sold 390 390 666 666 Sales returns and allowances Accounts receivable Merchandise Inventory Cost of goods sold 382 382 680 Accounts receivable Sales returns and allowances 680