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Hinds Company sold merchandise to Peter Company on account for $$146,000$ with credit terms of $?/10,\frac{n}{30}.$ The cost of the merchandise sold was $$86,140.$ During the discount period, Peter Company returned $$6,000$ of merchandise and paid in account in full $($minus the discount$)$ by remitting $$137,200$ in cash. Both companies use a perpetal

Prepare the journal entries that Hinds Company made to record: $($Credit account titles are automatically indented when the amo entered. Do not indent manually. Record journal entries in the order presented in the problem.$)$

$(1)$ the sale of merchandise.

$(2)$ the return of merchandise.

$(3)$ the collection on account.

Debit

Credit

Transaction Account Titles and Explanation

$1.$

$($To record credit sale.$)$