Send to Gradebook Question 2 View Policies Show Attempt History Current temple Progress . Your answer is partially correct The following transactions are for Sage Hill Company 1. On December 3, Sage Hell Company sold $492.700 of merchandise to Oriol Co, on account terms 3/10, 1/30. The cost of the merchandise sold was $12.00 2. On December 8, Oriol Co. was granted an allowance of $23,000 for merchandise purchased on December 3. 2 On December 13 Sage Company received the balance de from Oriol Co Prethom e to record the transactions on the books of Sage Hi Sage Hilses a perpetual inventory system. We entry is required select "Ne Entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered Do not lety) Date Account Titles and planation to record sale of merchandise on account) 5. 7 8 9 0 Command option mal entries to record these transactions on the books of Sage Hill, Sage Hill uses a perpetual IVU y for the account titles and enter for the amounts. Credit account titles are automatically indented when am, manually.) Debit Credit ate Account Titles and Explanation 492700 23 Accounts Receivable 492700 Sales Revenge (To record sale of merchandise on account) Cost of Goods Sold Dt.3 312100 Inventory (To record cost of merchandise sold on account) Sales Returns and Allowances 23000 Dec.B Accounts Receivable wamethasage Company received the balance due from Oriole Coon J uary 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2.0 no entry is required, select "No Entry" for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually