1. The following transactions are for Carla Vista Company. On December 3, Carla Vista Company sold $552,200 of merchandise to Kingbird Co on account, terms 3/10, 1/30. The cost of the merchandise sold was $352,100. On December 8, Kingbird Co. was granted an allowance of $25,300 for merchandise purchased on December 3. On December 13, Carla Vista Company received the balance due from Kingbird Co. 2 3. Debit Credit No. Date Account Titles and Explanation 552200 1. Dec 3 . Accounts Receivable Sales Revenue (To record credit sale) Dec.3 352100 Cost of Goods Sold Inventory INTE DATA (To record cost of merchandise sold) 25300 2. Dec. 8 2 Sales Returns and Allowances Accounts Receivable 511093 3. Dec 13 Cash Sales Discounts 15807 Accounts Receivable Debit Credit Date Account Titles and Explanation 552200 Dec 3 Accounts Receivable 552200 Sales Revenue (To record credit sale) 352100 Sec 3 Cost of Goods Sold 352100 Inventory (To record cost of merchandise sold) 25.300 Sec. B Sales Returns and Allowances 25300 Accounts Receivable 511093 Dec. 13 : Cash 15807 Sales Discounts DI 526900 Accounts Receivable (b) Assume that Carla Vista Company received the balance due from Kingbird Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit