Question 2: Presented below are transactions related to S. Pippen Company. 1. On December 3, S. Pippen Company sold $480,000 of merchandise to D. Rodman co., terms 2/10, n/30. The cost of the merchandise sold was $320,000. 2. On December 8, D. Rodman Co. was granted an allowance of $20,000 for merchandise which had small defects purchased on December 3. 3. On December 13, S. Pippen Company received the balance due from D. Rodman Co. Instructions: a- Prepare the journal entries to record these transactions on the books of S. Pippen Company using a perpetual inventory system. b- Assume that S. Pippen Company received the balance due from D. Rodman 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