Ransak Corporation sold merchandise to Belville Corporation on account for $168,000 with credit terms 3/10, n/30 on February 19, 2021. The cost of the merchandise sold was 584,000. Belville returned 15% worth of merchandise on February 22, 2021 and paid its account in full within 7 days. The returned goods were returned to inventory. Both companies use a perpetual inventory system and follow ASPE. Required: Prepare the journal entries that Ransak Corporation made to record the 1. sale of merchandise. 2 return of merchandise. 3. collection on account