Prepare the journal entries to record the following transactions on Novak Corp.’s books using a perpetual inventory system. (If no entry is required, write "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
a) On March 2, Novak Corp. sold $887,400 of merchandise to Sarasota Company, terms 2/10, n/30. The cost of the merchandise sold was $571,700.
b) On March 6, Sarasota Company returned $103,200 of the merchandise purchased on March 2. The cost of the merchandise returned was $62,500.
c) On March 12, Novak Corp. received the balance due from Sarasota Company.

Mesa company produces wooden rocking chairs. the company has two production departments, cutting and assembly. the wood is cut and sanded in cutting and then transferred to assembly to be assembled and painted. from assembly, the chairs are transferred to finished goods inventory and then are sold.mesa has compiled the following information for the month of february: cutting department assemblydepartmentdirect materials $ 73,000 $ 13,000direct labor 73,000 108,000applied manufacturing overhead 159,000 171,000cost of goods completed and transferred out 233,000 255,000required: 1, 2, 3, & 4. prepare journal entries for the transactions in the cutting and assembly departments of mesa company. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)