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) On March 2, Sandhill Company sold $887,400 of merchandise to Teal Mountain Company on account, terms 2/10, n/30. The cost of the merchandise sold was $571,700. (b) On March 6, Teal Mountain Company returned $103,200 of the merchandise purchased on March 2. The cost of the merchandise returned was $62,500. (c) On March 12, Sandhill Company received the balance due from Teal Mountain Company. No. Date Account Titles and Explanation (a) March 2 Accounts Receivable Sales Revenue (To record sale of merchandise) March 2 Cost of Goods Sold Inventory Debit 887400 571,700 (b) March 6 Sales Returns and Allowances 103.200 Credit