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

Prepare the journal entries to record the following transactions on Blossom 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, Kingbird Company sold $889,200 of merchandise to Blossom Company on account, terms 2/10,n/30. The cost of the merchandise sold was $573,500. (b) On March 6, Blossom Company returned $111,100 of the merchandise purchased on March 2. The cost of the merchandise returned was $67,400. (c) On March 12, Kingbird Company received the balance due from Blossom Company. No. Date Debit Credit Account Titles and Explanation Accounts Receivable a) March 2 889200 Sales Revenue 88920 b) March 6 Cost of Goods Sold 573500 Inventory 57350 c) March 12 Cash 762538 Sales Discounts 15562 Accounts Receivable 77810