Question: Ivanhoe Co. uses the gross method to record sales made on credit and a periodic inventory system. On July 1, 2025, Ivanhoe sold goods

Ivanhoe Co. uses the gross method to record sales made on credit and a periodic inventory system. On July 1, 2025, Ivanhoe sold goods with a price of $82,000 to Sarasota Inc. with terms 2/10 n/30. On July 9, 2025, Ivanhoe received full payment from Sarasota for the July 1 sale. Prepare the required journal entries for Ivanhoe. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date > Account Titles and Explanation Debit Credit

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