Exercise 5-05 a-b (Part Level Submission) Presented below are transactions related to Tamarisk, Inc.. 1. On December 3, Tamarisk, Inc. sold $670,800 of merchandise on account to Oulver Co, terms 3/10, 1/30, FOB shipping point. The cost of the merchandise sold was $373,300. 2. On December 8, Culver Co. was granted an allowance of $29,200 for merchandise purchased on December 3. On December 13, Tamarisk, Inc. received the balance due from Culver Co. (a) Prepare the journal entries to record these transactions on the books of Tamarisk, Inc. using a perpetual inventory system (Credit account tles are automatically indented when amount i entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. (To record credit sale) (to record cost of merchandise sold) 2 won My 3 Attempts: 0 of 3 used SAV POSLATUR SUBMIT