1- Erving Company sold goods on account to Farley Enterprises with terms of 2/10, n/30. The goods had a cost of $600 and a selling price of $900. Both Erving and Farley use a perpetual inventory system. Record the sale on the books of Erving and the purchase on the books of Farley. 2- Manning Company sells merchandise on account for $2,000 to Tiger Company with credit terms of 3/10, n/60. Tiger Company returns $200 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Manning Company make upon receipt of the check and the damaged merchandise? 3- The income statement for Avery Company for the year ended December 31, 2008 is as follows: AVERY COMPANY Income Statement For the Year Ended December 31, 2008 Revenues Sales............ ... $55,000 Interest revenue. 3,000 Total revenues....... 58,000 Expenses Cost of goods sold... Selling expenses ........ $36,000 ... 7,000 Administrative expenses. Interest expense ................. 5,000 ........... 1,000 Total expenses ... 49,000 Net income $ 9,000 Prepare the entries to close the revenue and expense accounts at December 31, 2008