Prepare journal entries to record the following transactions which are independent of each other. 1. a. On January 1, 2020, Shoppers Inc. purchased merchandise for resale for $20,000 on credit terms 1/15, n/30. Shoppers Inc. incurred a shipping charge of $2,000 on the purchase, which was immediately paid. Shoppers Inc. uses the gross method to record purchases. 2. Ikeo Inc. sold $100,000 of gift cards during the last two weeks of December 2020. 3. On March 28, 2020, Manchester Co. required an advance payment of $100,000 from a customer on a special order of equipment. Note: You may create a table as follows to organize your journal entries. Date 1 Cash Sales Revenue Edit Format Table Account titles Debit Credit 10,000 10,000