Brief Exercise 6-16 Pharoah Company sells goods to Waterway Company during 2020. It offers Waterway the following rebates based on total sales to Waterway. If total sales to Waterway are 8,600 units, it will grant a rebate of 2%. If it sells up to 20,800 units, it will grant a rebate of 4%. It if sells up to 27,600 units, it will grant a rebate of 6%. In the first quarter of the year, Pharoah sells 9,600 units to Waterway at a sales price of $96,000. Based on past experience, Pharoah has sold over 40,000 units to Waterway, and these sales normally take place in the third quarter of the year. Prepare the journal entries including any rebates that Pharoah should make to record the sale of the 9,600 units in the first quarter of the year. Pharoah follows IFRS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit (To record sale on account) (To record rebate) Prepare the journal entries including any rebates that Pharoah should make to record the sale of the 9,600 units in the first quarter of the year. Pharoah follows ASPE. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (To record sale on account) (To record rebate)