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Prepare the journal entries to record the following transactions on Moon Companys books using a perpetual inventory system. (a) On March 2, Moo Company sold

Prepare the journal entries to record the following transactions on Moon Companys books using a perpetual inventory system.

(a) On March 2, Moo Company sold OMR 600,000 of merchandise to Star Company, terms 3/10, n/30.The cost of the merchandise sold was OMR 420,000.

(b) On March 6, Star Company returned OMR100,000 of the merchandise purchased on March 2. The cost of the returned merchandise was OMR70,000.

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