Use a tabular summary, to record the following transactions for Ivanhoe company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.

Use a tabular summary to record the following transactions for Ivanhoe Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (a) On March 2, Ivanhoe Company sold $864,000 of merchandise to Pharoah Company on account. The cost of the merchandise sold was $583,200. (b) On March 6. Pharoah Company returned $151,200 of the merchandise purchased on March 2. The cost of the merchandise returned was $101,520. (c) On March 12, Ivanhoe Company received the balance due from Pharoah Company. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses es. (45).)