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The transactions listed below are typical of those involving New Books Incorporated and Readers' Corner. New Books is a wholesale merchandiser and Readers' Corner is a retail merchandiser. Assume all sales of merchandise from New Books to Readers' Corner are made with terms $\frac{n}{30},$ and the two companies use perpetual inventory systems. Assume the following transactions between the two companies occurred in the order listed during the year ended August $31.$

a$.$ New Books sold merchandise to Readers' Corner at a selling price of $$645,000.$ The merchandise had cost New Books $$453,000.$

b$.$ Two days later, Readers' Corner complained to New Books that some of the merchandise differed from what Readers' Corner had ordered. New Books agreed to give an allowance of $$13,000$ to Readers' Corner. Readers' Corner also returned some books, which had cost New Books $$3,900$ and had been sold to Readers' Corner for $$5,400.$ No further returns are expected.

c$.$ Just three days later, Readers' Corner paid New Books, which settled all amounts owed.

$2.$ Prepare the journal entries that Readers' Corner would record. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Answer is not complete.

$\backslash$table$[[$No$,$Transaction,,,Debit,Credit$],[1,$a$.,$Inventory,grad,$645,000vv,],[,$Accounts Payable,$,,645,000vv$