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 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 $31.$

New Books sold merchandise to Readers$$ Corner at a selling price of $$605,000.$ The merchandise had cost New Books $$437,000.$

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 $$9,000$ to Readers$$ Corner. Readers$$ Corner also returned some books, which had cost New Books $$3,100$ and had been sold to Readers$$ Corner for $$4,600.$

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

Prepare the journal entries New Books would record. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$Record the sales on account of $$605,000$ to Readers$$ Corner on terms n$/30.$