Prepare the journal entries to record the following transactions on Wendel Company's books using a perpetual inventory system.

a. On March 2, Wendel Company sold \(\$ 700,000\) of merchandise to Krista Company, terms \(2 / 10\), \(\mathrm{n} / 30\). The cost of the merchandise sold was \(\$ 460,000\).

b. On March 6, Krista Company returned \(\$ 80,000\) of the merchandise purchased on March 2 . The cost of the merchandise returned was \(\$ 54,000\).

c. On March 12, Wendel Company received the balance due from Krista Company.