Information related to High Co$.$ is presented below.

On March $1,$ the company purchased merchandise from Low Comparyy for $$60,000.$ The credit terms for this purchase is $\frac{1}{8},$ net $\frac{?}{30}.$

On March $2,$ the company paid freight costs of $$5,000$ on merchandise purchased on March $1.$

On March $5,$ High Company returned damaged merchandise of $$8,000$ to Low Company.

On March $10,$ High Company paid the amount due to Low Company in full.

Required:

$($a$)$ How would you record March $10$ transaction in the books of High Company using the perpetual inventory method?

$($b$)$ How would your answer in $($a$)$ be different if High Company made the payment on March $8,$ instead of March $10?$

$($c$)$ On March $20,$ High Company sold $90\%$ of the merchandise purchased from Low Company at $$70,000.$ How much profit High Company made from this sale of merchandise?