Presented below are transactions related to Farmland Co. i. On March 5, Farmland Co. sold $400,000 of merchandise to Armor Co. terms 2/15, n/30, and FOB destination. The cost of the merchandise sold was $350,000. Farmland Co. paid $600 for freight charges. ii. On March 9, Armor Co. was granted an allowance of $30,000 for merchandise purchased on March 5. iii. On March 20, Farmland Co. received the balance due from Armor Co. Instructions Prepare the journal entries to record these transactions on the books of Farmland Co. using a perpetual inventory system