2. (LO 2) Prepare the journal entries to record the following transactions on Robertson Companys books using a perpetual inventory system.

1. On March 2, Melky Company sold $800,000 of merchandise to Robertson Company, terms 2/10, n/30.

2. On March 6, Robertson Company returned $100,000 of the merchandise purchased on March 2.

3. On March 12, Robertson Company paid the balance due to Melky Company.