QUESTION 7 The following transactions are for Daisy Ltd. 1 On 7 December Daisy Ltd sold $627,400 of inventory to Mario Ltd, terms 2/7, n/30. The cost of the inventory sold was $518,200. 2 On 8 December Mario Ltd was granted an allowance of $24,700 for inventory purchased on 7 December. 3 On 13 December Daisy Ltd received the balance due from Mario Ltd. Required Prepare the journal entries to record these transactions in the records of Daisy Ltd using a perpetual inventory system. (Enter debit entries first, followed by credit entries. Please include Dr and Cr as appropriate. Narrations are not required.)