Question III On December 1, 2016, Lulu Inc of me December 11, 2016, cash collections on and on December 31, 2016, additional collections on sales originally s were made on sales originally billed for $12,000 billed for $6,000 sold S18,000 of merchandise with terms 2/10 n/30. On were received. journal entries to record the sale, collections and any required year-end stments assuming Lulu records sales and accounts receivable at the gross price. a. Prepare the adju Prepare the journal entries to record the sale, collections and any required year-end adjustments assuming Lulu records sales and accounts receivable at the net price b