The following transactions occurred during March: Date Description: 3/1 Rivers Corp. sold merchandise having a sales price of $900 with terms 2/10, n/30. 3/5 The customer returned merchandise having a sales price of $300 back to Rivers. Assume Rivers estimates its sales returns and allowances. 3/7 Rivers Corp. received a check from the above customer for the balance due. QUESTION: If Rivers Corp. uses the net method of recording sales discounts, what will be the journal entry on March 7  ?

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