Question

The journal entries to record these transactions on Bernad.na Company's books under a perpetual inventory system. (Credit account title-; are used. Do not indent manually. Record journal entries in the order presented in the problem.) On March 2, Horst Company sold $906,100 of merchandise to Bernadina Company, terms 3/10, n/30. The cost of the merchandise sold was $544,200, On March 6, Bernadina Company returned $102,800 of the merchandise purchased on March 2. The cost of the merchandise returned was $61,150. On March 12, Horst Company received the balance due from Bernadina Company.