Prepare the journal entries to record the following transactions on Crane Company's books using a perpetual inventory system.

$($a$)$

On March $2,$ Crane Company sold $$890,000$ of merchandise on account to Pronghorn Company, terms $\frac{3}{10},\frac{n}{30}.$ The cost of the merchandise sold was $$593,000.($List all debit entries before credit ent amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

Account Titles and Explanation

Debit

Credit

$($To record credit sale$)$

$($To record cost of merchandise sold$)$