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please solve and include how the discount works into the entries and can you explain how you get a b and c 1. Prepare the

please solve and include how the discount works into the entries and can you explain how you get a b and c
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1. Prepare the journal entries to rerord the following transactions for the Adams Company The company does not use a pespetual inventory system; thus, they do not record cost of goods sold. Any time in this class, when we record sales, we will make this assumption unless you are told otherwise. (a) On March 2, Adams Company sold $900,000 of merchandise to the Bates Company, terms 2/10,n/30. (b) On March 6, Bates Company returned $200,000 of the merchandise purchased on March 2. (c) On March 12, Adams Company received the balance due from Bates Company

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