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Prepare the journal entries to record these transactions on Cullumber Company's books using a periodic inventory system. (If no entry is required, select "No Entry" for the account titles and enter o 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) (b) (c) On March 2, Cullumber Company purchased $939,500 of merchandise from Marin Company, terms 3/10, n/30. On March 6, Cullumber Company returned $115,900 of the merchandise purchased on March 2. On March 12, Cullumber Company paid the balance due to Marin Company. No. Date Account Titles and Explanation Debit Credit (a) (0) Brief Exercise 5-01 Presented below are the components in determining cost of goods sold. Determine the missing amounts. Beginning Inventory Cost of Goods Available for Sale Ending Inventory Purchases Cost of goods sold $86,000 $116,000 (a) (b) $125,000 $55,000 (C) $120,000 $38,000 (d) $106,000 $165,000 $32,000 $ The adjusted trial balance of Metlock, Inc. shows these data pertaining to sales at the end of its fiscal year, October 31, 2022: Sales Revenue $906,500; Freight-Out $14,200; Sales Returns and Allowances $21,000; and Sales Discounts $15,000. Prepare the sales section of the income statement. Metlock, Inc. Income Statement (Partial)

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