Martinez Company shows a balance of $245,530 in the Accounts Receivable account on December 31, 2020. The balance consists of the following. Installment accounts due in 2021 $27,800 Installment accounts due after 2021 35,100 Overpayments to vendors 3,140 Due from regular customers, of which $40,300 represents accounts pledged as security for a bank loan 87,700 Advances to employees 1,790 Advance to subsidiary company (due in 2021) 90,000 Illustrate how the information above should be shown on the balance sheet of Martinez Company on December 31, 2020. Assume that installment accounts collectible due after December 31, 2018 (Customers) are collectible within the operating cycle of the business. The company's operating cycle is such that all installment receivables are classified as current. MARTINEZ COMPANY Balance Sheet (Partial) $ $ On June 3, Marigold Company sold to Chester Company merchandise having a sale price of $3,100 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $99, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. (a) Prepare journal entries on the Marigold Company 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. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit (1) June 12 (2)