View Policies Current Attempt in Progress Prepare journal entries to record the following sales transactions in Sunland Company's books, Sunland uses a perpetual inventory system Mar. 12 13 14 Sunland sold $25,000 of merchandise to Jarek Company, terms 2/10, 1/30, FOB destination. The cost of the merchandise sold was $13.250. The correct company paid freightlosts of $165. Jarek returned $2,400 of the merchandise purchased on March 12 because it was damaged. The cost of the merchandise returned was $1.060. Sunland examined the merchandise, decided it was no longer saleables, and discarded it Suntand received the balance due from Jarek 22 (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 for the amounts. Record Journal entries in the order presented in the problem) Date Credit Debit Account Titles and Explanation Accounts Receivable 25.000 Mar. 12 25000 Sales (To record sales on account.) (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 0 for the amounts. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Accounts Receivable Mar. 12 25.000 Sales 25,000 (To record sales on account.) (To record cost of goods sold) I (Cash payment for freight costs.) (To record credit for goods returned.) Mar. 22 (Collection on account.)