Prepare the journal entries to record the following transactions on Pina Colada Corps books using a perpetual inventory system.

1. On March 2nd, Pina Colada Corp sold 889000 of merchandise on account to Flint company, terms 3/10, n/30. The cost of the merchandise sold was 599,000.
Accounts receiveable - Debit 889000
Sales revenue - Credit 889000
(to record credit sale)
Cost of goods sold - debit 599000
Inventory - Credit 599000
(to record cost of merchandise sold)

2. 2. On March 6, Flint Company returned 88,900 of the merchandise purchased on March 2. The cost of the returned merchandise was 59,900.

I know I am right with the following:

Sales Returns and Allowances - Debit 88900
Accounts receiveable - credit 88900
(to record merchandise returned)
Inventory - Debit 59900
Cost of goods sold - Credit 59,900
(to record cost of merchandise returned)

On March 12, Pina Colada Corp received the balance due from Flint Company.
Cash:
Sales discount:
Accounts receivable: