Question 7 of 9 < > - / 4 View Policies Current Attempt in Progress Presented below is information from Ivanhoe Computers Incorporated. July 1 Sold $16,000 of computers to Robertson Company with terms 3/15, n/60. Ivanhoe uses the gross method to record cash discounts. Ivanhoe estimates allowances of $1,040 will be honored on these sales. 10 Ivanhoe received payment from Robertson for the full amount owed from the July transactions. 17 Sold $160,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Ivanhoe for its purchase of July 17. Prepare the necessary journal entries for Ivanhoe Computers. (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.) Date Account Titles and Explanation (To record sales revenue.) (To record allowance for sales returns.) Debit Credit