Current Attempt in Progress

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

$($a$)$

On March $2,$ Ivanhoe Compary sold $$840,000$ of merchandise on account to Sarasota Company, terms $\frac{3}{10},\frac{n}{30}.$ The cost of the merchandise sold was $$603,000.$ List afl debit entries before credit entries. Credit occount tilles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

Account Titles and Explanation

Debit

Credit

$($To record credit sale$)$

$($To record cost of merchandise sold$)$

eTextbook and Media

List of Accounts

Attempts: $0$ of $3$ used

$($b$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$($c$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.