prepare the journal entries to record the following transactions on
prepare the journal entries to record the following transactions on kwang company's books using a perpetual inventory system.(a) on march 2, kwang company sold $900,000 of merchandise to sensat company, terms 2/10, n/30. the cost of the merchandise sold was $620,000.(b) on march 6, sensat company returned $90,000 of the merchandise purchased on march 2. the cost of the returned merchandise was $62,000.(c) on march 12, kwang company received the balance due from sensat company.
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