Question 3 of 10 On February 6, Ivanhoe Company sold $117.000 of merchandise to the Lyman Company, terms 2/10.net/30. The cost of the merchandise sold was 579,000. On February 8, the Lyman Company returned $13,000 of the merchandise purchased on February 6, The cost of the merchandise returned was $10,000. On February 16 Ivanhoe Company received the balance due from the Lyman Company Prepare the journal entries to record the above transactions on Ivanhoe Company's books using a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb 6 Accounts Receivable $117.000 Sales $117.000 (To record credit sale) Feb. Cost of Goods Sold $79.000 Merchandise Inventory $79.000