Prepare the journal entries to record the following transactions on Crane Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 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) (b) On March 2, Crane Company sold $901,300 of merchandise to Sheridan Company, terms 3/10, 1/30. The cost of the merchandise sold was $559,000 On March 6, Sheridan Company returned $117,700 of the merchandise purchased on March 2. The cost of the merchandise returned was $66,800 On March 12, Crane Company received the balance due from Sheridan Company (c) Date Account Titles and Explanation Debit Credit (To record sale of merchandise) (To record return of merchandise) March 12 1