4.5U Attach File Browse My Computer QUESTION 3 UPLOAD YOUR ANSWER AS A PDF FILE. On November 8, Riley Company sold to Luc Company merchandise having a sales price of $7,000 with terms of 1/10, n/30, F.O.B. shipping point. An invoice totaling $120, terms n/30, was received by Luc on November 10 from Indigo Transport Service for the freight cost. On November 13, Riley received a check for the balance due from the Luc Company. INSTRUCTIONS: A) Prepare journal entries on the Riley Company's books to record all the events noted above under each of the following bases. 1) Sales and receivables are entered at gross selling price. 2) Sales and receivables are entered at net of cash discounts. B) Prepare the journal entry under basis 2, assuming Luc Company did not remit payment until 12/1. Selected Answer: test293.pdf Remove Attach File Browse My Computer Click Save and Submit to save and submit. Click Save All Answers to save all answers. here to search Bi