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Current Attempt in Progress Your answer is partially correct. Use a tabular summary to record...

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Accounting

Current Attempt in Progress
Your answer is partially correct.
Use a tabular summary to record the following transactions for Sunland Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.
(a) On March 2, Sunland Company sold $752,000 of merchandise to Carla Vista Company on account. The cost of the merchandise sold was $507,600.
(b) On March 6, Carla Vista Company returned $131,600 of the merchandise purchased on March 2. The cost of the merchandise returned was $88,360.
(c) On March 12, Sunland Company received the balance due from Carla Vista Company.
Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses.
Increases in expenses require a negative sign or parentheses.
Reductions in revenues require a negative sign or parentheses.
Assets
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