Prepare the journal entries to record the following transactions on Benson Company's books.

(Note: Benson is the seller, while Edgebrook is the buyer.)

On March 2, Benson Company sold $800,000 of merchandise to Edgebrook Company, terms 2/10, n/30.

The cost of the merchandise sold was $620,000.

On March 6, Edgebrook Company returned $120,000 of the merchandise purchased on March 2. The cost

of the returned merchandise was $90,000.

On March 12, Benson Company received the balance due from Edgebrook Company.