Your answer is partially correct Prepare the journal entries to record the following transactions on Blossom Company's books using a perpetual inventory systern. (IF no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem) (a) On March 2, Blossom Company sold $853,600 of merchandise to Sunland Company, termes 3/10,630. The cost of the merchandise sold was $540,300. On March 6, Sunland Company retumed $114,200 of the merchandise purchased on March 2. The cost of the merchandise retumed was $68.200 c On March 12. Blossom Company received the balance due from Sunland Company (b) tre Account Titles and Explanation Deb Credit 2 Inwentory 853,600 Accounts Payable 353,600 (To record sale of merchandise) 2 Inventory Accounts Payable Accounts Payable 114,200 0001.1800 UI ODON ODIO I Inventory 114,200 (To record return of merchandise) Accounts Payable Inventory Accounts Payable 739 400 Inventory 14788 Cash 724,512 e Testhank and Media