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Prepare the journal entries to record the following transactions on Sandhill Company's books using a perpetual Inventory system. (If no entry is required, select "No Entry for the account titles and enter o 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, Sandhill Company sold $ 851,800 of merchandise to Teal Mountain Company on account, terms 3/10,n/30. The cost of the merchandise sold was $ 537.700. On March 6, Teal Mountain Company returned $ 103,700 of the merchandise purchased on March 2. The cost of the merchandise returned was $ 68,000 On March 12, Sandhill Company received the balance due from Teal Mountain Company. (c) Date Credit Debit Account Titles and Explanation arch 2 Accounts Receivable 851800 Sales Revenue (To record sale of merchandise) arch 2 Cost of Goods Sold 537,700 Inventory arch 6 (To record retum of merchandise) arch 12 Inventory 68,000 Cost of Goods Sold ch 12