On June 3, Stellar ple sold to Arquette Compary merchandise having a sales price of 2400 with terms of 2/10. n/60. An involice totaling 92, tertis n/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. (a) Your answer is correct. Prepare joumal entries on the Stellar plc books to record sales and receivables for 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 tities and enter O for the amounts. Credit account bities are automaticolly indented when the amount is entered. Do not indent manualiy. Prepare the journal entry under basis (a)(2), assuming that Arquette Company did not remit payment until July 29 . IIf no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account tittes are cutomatically indented when the amount is entered. Do not indent manually.]