On January 1 , Vitamin Water Inc. sold merchandise for $2,800 on credit terms 2/10,n/45 Required Ignore cost of sales entries for each of the following requirements. a. Under the gross method, record (1) the sales transaction on January 1, and (2) the collection of the account, assuming collection took place on January 5. b. Under the gross method, record (1) the sales transaction on January 1, and (2) the collection of the account, assuming collection took place on January 25