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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 Sunland Company sold $ of merchandise to Carla Vista Company on account. The cost of the merchandise sold was $
b On March Carla Vista Company returned $ of the merchandise purchased on March The cost of the merchandise returned was $
c On March 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
