Question 4) The following transactions are for Solarte Company: On December 3, Solarte Company sold $700,000 of merchandise to Rooney Co., terms 4/10, n/30. The cost of the merchandise sold was $380,000. On December 8, Rooney Co. was granted an allowance of $35,000 for merchandise purchased on December 3 On December 13, Solarte Company received the balance due from Rooney Co. Instructions (in color) Prepare the journal entries to record these transactions on the books of Solarte Company. Solarte uses a perpetual inventory system A. B. Assume that Solarte Company received the balance due from Rooney Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record he receipt of payment on January 2