The following transactions are for Shamrock Company. 1. On December 3, Shamrock Company sold $533,400 of merchandise to Pharoah Co., on account, terms 2/10,n/30. The cost of the merchandise sold was $312,100. 2. On December 8, Pharoah Co. was granted an allowance of $24,700 for merchandise purchased on December 3. 3. On December 13, Shamrock Company received the balance due from Pharoah Co. Sales Revenue (To record sale of merchandise on account) Inventory (To record cost of merchandise sold) Dec. 8 Sales Returns and Allowances 24,700 Accounts Receivable Jan. 2 Cash Sales Discounts 10,174 Accounts Receivable Your answer is partially correct. Assume that Shamrock Company received the balance due from Pharoah 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. (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. List all debit entries before credit entries.)