Prepare the journal entries to record the following transactions on Metlock, Inc.$\text{'}$s books under a perpetual inventory system.

$($a$)$

On March $2,$ Monty Company sold $$824,000$ of merchandise on account to Metlock, Inc., terms $4/10,$ n$/30.$ The cost of the merchandise sold was $$559,000.($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

eTextbook and Media

List of Accounts

Attempts: $0$ of $5$ used