Prepare the journal entries to record the following transactions on Novy Company's books using a perpetual inventory system On March 2, Novy Company sold $900,000 of merchandise to Opps Company, terms 2/10, 1/30. The cost of the merchandise sold was $590,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) On March 6, Opps Company returned $90,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $62,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record merchandise returned) (To record cost of merchandise returned) eTextbook and Media List of Accounts On March 12, Novy Company received the balance due from Opps Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit