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Use a tabular summary to record the following transactions for Blossom Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.

$($a$)$ On March $2,$ Blossom Company sold $$816,000$ of merchandise to Crane Company on account. The cost of the merchandise sold was $$550,800.$

$($b$)$ On March $6,$ Crane Company returned $$142,800$ of the merchandise purchased on March $2.$ The cost of the merchandise returned was $$95,880.$

$($c$)$ On March $12,$ Blossom Company received the balance due from Crane Company.

Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses.

Increases in expenses require a negative sign or parentheses.

Reductions in revenues require a negative sign or parentheses.

Mar. $2$ Assets

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