The following transactions are for Pharoah Company. 1. On December 3, Pharoah Company sold $606,000 of merchandise to Flounder Co., on account, terms 2/10,n/30,FOB destination. Pharoah paid $380 for freight charges. The cost of the merchandise sold was $384,100. 2. On December 8 , Flounder Co. was granted an allowance of $29,500 for merchandise purchased on December 3. 3. On December 13, Pharoah Company received the balance due from Flounder Co. Prepare the journal entries to record these transactions on the books of Pharoah Company using a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (To record credit sale) (To record cost of merchandise sold) (To record freight charges) 2. (To record freight charges) 2. 3. Assume that Pharoah Company received the balance due from Flounder Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)