on march 12, fret company sold merchandise in the amount of $7,800 to babson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,500. fret uses the perpetual inventory system and the gross method of accounting for sales. on march 15, babson returns some of the merchandise. the selling price of the returned merchandise is $600 and the cost of the merchandise returned is $350. the entry or entries that fret must make on march 15 is (are): multiple choice account titledebitcredit sales returns and allowances350 accounts receivable 350 account titledebitcredit accounts receivable600 sales returns and allowances 600 account titledebitcredit sales returns and allowances600 accounts receivable 600 merchandise inventory350 cost of goods sold 350 account titledebitcredit accounts receivable600 sales returns and allowances 600 cost of goods sold350 merchandise inventory 350 account titledebitcredit sales returns and allowances600 accounts receivable 600