Presented below and transactions related to Ivanhoe Company 1 On December 2, Ivanhoe Company sold $670,900 of merchandise on account to Tamarisk Co.,terms/10, 1/30, FOB shipping point. The cost of the merchandise sold was $373.300 2 On December 8, Tamarisk Co. was granted an allowance or $29,200 for merchandise purchased on December 3. 3 on December 13, Ivanhoe Comparwreceived the balance due from Tamariska l wentory system (Credit accountities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account Prepare the journal entries to record these transactions on the books of Ivanhoe Company using a po titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit (To record credi sale) (To record cost of marchandise sold) 3. Dec. 13 Textbook and Media List of Accounts Assume that Ivarno Company received the balance due from Tamarisk Co.on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2 (Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit