Prepare the journal entries to record the following transactions on Novy Company's books using a perpetual inventory system. . (a) On March 2, Novy Company sold $900,000 of merchandise on account to Opps Company, terms 2/10, n/30. The cost of the merchandise sold was $590,000. (List all debit entries before credit entries. 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 O for the amounts.) Account Titles and Explanation (To record credit sale) (To record cost of merchandise sold) Debit Credit A

Prepare the journal entries to record the following transactions on Novy Company's books using a perpetual inventory system. (a) On March 2, Novy Company sold $900,000 of merchandise on account to Opps Company, terms 2/10, r /30. The cost of the merchandise sold was $590,000. (List all debit entries before credit entries. Credit account Ulles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amoeints.)