Prepare the journal entries to record the following transactions on Sandhill Company's books under 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. List all debit entries before credit entries.) (a) (b) (c) On March 2, Teal Mountain Company sold $887,400 of merchandise to Sandhill Company on account, terms 2/10, n/30. The cost of the merchandise sold was $571,700. On March 6, Sandhill Company returned $103,200 of the merchandise purchased on March 2. The cost of the merchandise returned was $62,500. On March 12, Teal Mountain Company received the balance due from Sandhill Company. Date Account Titles and Explanation March 2 Accounts Receivable Sales Revenue March 6 Cost of Goods Sold Inventory March 12 Cash Sales Discounts Accounts Receivable Debit 887400 62500 768516 15684 Credit 887400 62500 784200