Prepare the journal entries to record the following transcations on Crane Company's books using the perpetual inventory system. On March 2, Cane Company sold $890,000 of merchandise on account to Pronghorn Company, terms 3/10, n/30. The cost of the merchandise sold was $593,000. On March 6, Pronghorn Company returned$89,000 of the merchandise .purchased on March 2. The cost of the returned merchandise was $62,300. On March 12, Cane Company received the balance due from Pronghorn Company