Economics · Accounting

During its accounting year ended 29 February 20X5, Neptune Co agreed with Sun Co (from whom it both purchased goods and sold goods to on credit terms) to contra an amount that left a balance outstanding from Sun Co due to Neptune Co of $750. At the date of this agreement, Neptune Co had a receivables general ledger account balance for Sun Co of $2,685 and a payables general ledger account balance of $2,565. What accounting entries should Neptune Co make in its general ledger to record this situation?