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

On March 2, Concord Corporation sold $821,000 of merchandise on account to Sarasota Company, terms 2/10, n/30. The cost of the merchandise sold was $613,000.

On March 6, Sarasota Company returned $82,100 of the merchandise purchased on March 2. The cost of the returned merchandise was $61,300

On March 12, Concord Corporation received the balance due from Sarasota Company.