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On December 3, Ivanhoe Company sold $662 200 of merchandise to Oriole Co terms 1/10, 1/30, FOB destination. The cost of the merchandise sold was

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On December 3, Ivanhoe Company sold $662 200 of merchandise to Oriole Co terms 1/10, 1/30, FOB destination. The cost of the merchandise sold was $351.200. Ivanhoe paid $830 for freight charges Prepare the journal entries to record these transactions on the books of Ivanhoe Company using a perpetua inventory system (Credit occount titles are automatically indented when amount is entered. Do not Indent manually) Date Account Titles and Explanation Debit Credit Dec 03 (To record credit sale) Dec. 03 (To record cost of merchandise sold) Dec. 03 (To record payment of freight on goods sold)

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