On June 3, Metlock plc sold to Arquette Company merchandise having a sales price of 5,000 with terms of 3/10./60. An invoice totaling 95 terms/30, was received by Arquette 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 Arquette Company, Prepare journal entries on the Metlock plc books to record sales and receivables for all the events noted above under each of the following bases. (1) (2) Sales and receivables are entered at gross selling price. 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 Credi (1) June 12 (2) Prepare the journal entry under basis (a)(2), assuming that Arquette Company did not remit payment until July 29. 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.) Date Account Titles and Explanation Debit Credit July 29