1. On December 3, Skysong Company sold $513,500 of merchandise to Sheridan Co., on account, terms 3/10,n/30. The cost of the merchandise sold was $318,300. 2. On December 8, Sheridan Co. was granted an allowance of $24,700 for merchandise purchased on December 3 . 3. On December 13, Skysong Company received the balance due from Sheridan Co. Assume that Skysong Company received the balance due from Sheridan Co, on January 2 of the following year instead of December 13. Prepare the joumal entry to record the receipt of payment on January 2. (If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account tities are automatically indented when amount is entered. Do not indent manually.)