View Policies Current Attempt in Progress On February 6, Markowitz Company sold $105,000 of merchandise to the Lyman Company, terms 2/10,net/30. The cost of the merchandise sold was $70,000. On February 8, the Lyman Company returned $14,000 of the merchandise purchased on February 6. The cost of the merchandise returned was $9,000. On February 16 Markowitz Company received the balance due from the Lyman Company Prepare the journal entries to record the above transactions on Markowitz Company's books using a perpetual inventory system (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Date Debit Credit (To record credit sale) y (To record cost of good sold) (To record goods returned) (To record cost of good returned)