a Prepare the journal entries to record the following transactions on Borst Company's books using a perpetual inventory system. (if no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) (b) On March 2, Borst Company sold $800,000 of merchandise to McLeena Company on account, terms 2/10, 1/30. The cost of the merchandise sold was $540,000. On March 6, McLeena Company returned $140,000 of the merchandise purchased on March 2. The cost of the merchandise returned was $94.000. On March 12, Borst Company received the balance due from McLeena Company, (c) Date Account Titles and Explanation Debit Credit March 2 Inventory 800000 Accounts Payable 800000 (To record sale of merchandise) March 6 Accounts Payable 140000 Inventory 140000 TE BODO DO March 6 (To record return of merchandise) 646800 1arch 12 Accounts Payable Cash 646800 13200 Inventory