Your answer is partially correct. Try again. Presented below are two independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On January 6, Pharoah Co. sells merchandise on account to Pryor Inc. for $13,900, terms 2/10, n/30. On January 16, Pryor Inc. pays the amount due. Prepare the entries on Pharoah's books to record the sale and related collection. (Omit cost of goods sold entries.) (b) On January 10, Andrew Farley uses his Paltrow Co. credit card to purchase merchandise from Paltrow Co. for $10,800. On February 10, Farley is billed for the amount due of $10,800. On February 12, Farley pays $5,400 on the balance due. On March 10, Farley is billed for the amount due, including interest at 4% per month on the unpaid balance as of February 12. Prepare the entries on Paltrow Co.'s books related to the transactions that occurred on January 10, February 12, and March 10. (Omit cost of goods sold entries.) No. Date Account Titles and Explanation Debit Credit (a) Jan. 6 Accounts Receivable 13900 Sales Revenue 13900 Jan. 16 Cash Sales Discounts Accounts Receivable 13900 (b) TFeb. 10 Accounts Receivable 10800 Sales Revenue 10800 Feb. 12 Cash 5400 Accounts Receivable 5400 Mar. 10 Accounts Receivable > Interest Revenue