a. Sampson Co. sold merchandise to Batson Co. on account, $36,000, terms 2/15, net 45. p. The cost of the goods sold is $27,000. E. The Batson Co. paid the invoice within the discount period. Assume both Sampson and Batson use a perpetual inventory system. If no entry is required, select "No entry required" and leave the amount boxes blank. Prepare the entries that Sampson Company would record for the information above. If an amount box does not require an entry, leave it blank. a. b. C. Accounting numeric field

Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 3/10, n/60 and an invoice price of $24,000. The merchandise had cost Mesa $16,000. Assume that both buyer and seller use a perpetual inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (c) cash payment after the discount period. 2. Prepare entries that the seller records for the (a) sale, (b) cash collection within the discount period, and (c) cash collection after the discount period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries that the seller records for the (a) sale, (b) cash collection within the discount period, and (c) cash collection after the discount period. View transaction list Journal entry worksheet

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Based on the information below, journalize the entries for the Seller and the Buyer.  Both use a perpetual inventory system. (a) Seller sells Buyer on account merchandise costing $245 for $645, terms 2/10, net 30, FOB destination.  The freight charge is $45.         (b) Buyer returns as defective $145 worth of the $645 merchandise received.  The seller's cost is $70.       (c) Buyer pays within the discount period.      Answer the above questions assuming both seller and buyer use the periodic inventory system.