The following transactions are for Sandhill Company 1. On December 3, Sandhill Company sold $ 475,800 of merchandise to Wildhorse Co, terms 2/10,n/30. The cost of the merchandise sold was $326,400 2. On December 8, Wildhorse Co. was granted a 3 On December 13,Sandhill ompany received the balance due from Wildhorse Co n allowance of$ 22,200 for merchandise purchased on December 3. Prepare the journal entries to record these transactions on the books of Sandhill Company. Sandhill Company uses a perpetual inventory system.(If no entry is required, select No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually No. Date Account Titles and Explanation Debit Credit 1. Dec. 3 Accounts Receivable Service Revenue To record credit sale) Cost of Goods Sold Inventory Tn record cost of merchandise sold)