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Ivanhoe Co. uses the gross method to record sales made on credit. On June 1,2020 , it made sales of $46,000 with terms 2/15,n/45. On June 12, 2020, Ivanhoe received full payment for the June 1 sale. Prepare the required journal entries for Ivanhoe Co. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Riverbed Woodcrafters sells $228,300 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a finance charge of 6% and retains an amount equal to 5% of accounts receivable. Riverbed estimates the fair value of the recourse liability to be $8,400. Prepare the journal entry for Riverbed to record the sale. (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 the amount is entered. Do not indent manually.)