t C educa Unit 8 Lab Assignment Question 4 of 7 View Policies Show Attempt History Current Attempt in Progress (a) Prepare the journal entries to record the llowing transactions on Sandhill Company's books using a perpetual inventory system. vas/ui/v2/assessment pra Your answer is partially correct. On March 2, Sandhill Company sold $845,000 of merchandise on account to Indigo Company, terms 3/10, n/30. The cost of the merchandise sold was $530,000. (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 Inventory Accounts Payable (To record credit sale) Debit 1.11/5 = : 845,000 Credit 845,000

Your answer is partially correct. OnMarch 2. Sandhill Company sold $845,000 of merchandise on account to Indigo Company, terms 3/10,n/30. The cost of the merchandise sold was $530,000. (List all debit entries before credit entries. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the occount titles and enter O for the amounts) Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) eTextbook and Media List of Accounts On March 6, Indigo Company returned $84,500 of the merchandise purchased on March 2 . The cost of the returned merchandise was $55,700. (List all debit entries before credit entries. Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter Ofor the amounts.) Account Titles and Explanation Debit Credit (To record merchandise returned) (To record cost of merchandise returned) eTextbook and Media - Your answer is partially correct. On March 2, Sandhill Company sold $845.000 of merchandise on account to indigo Company, terms 3/10,n/30. The cokt of the merchandise sold was $530,000, (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts) Account Titles and Explanation Debit Credit (To record credit sale) - Your answer is partialfy correct On March 12, Sandhill Company received the balance due from Indigo 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 ofor the amounts.) Account Titles and Explanation Debit Credit Accounts Payable Cash eTextbook and Media List of Accounts Attempts: 1 of 5 used