Question

HW4 9 upoates Not installed Some updates could not be installed automatically Check my work Exercise 4-6 Recording sales, purchases, and cash discounts--buyer and seller LO P1, P2 Santa Fe Retailing purchased merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 3/10, 1/60 and an invoice price of $18,200. The merchandise had cost Mesa $12.412. Assume that both buyer and seller use a perpetual inventory system and the gross method. Skipped 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 References 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 < 1 2 3 4 Record Santa Fe Retailing purchased merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 3/10, 1/60 and an invoice price of $18,200. Note: Enter debts before credits < Prev 3 of 5 !!! Next > MacBook Air

Answer 1

Exeruise-4-6 Requored Buyer Reon No TrncGeenal Tounal Punchases Aceound Payalle | Accounk Payable18200 Puechase dercound Cash Accounts Payabl Credd Debcl f18200 SAL 18200 Cash 8200 planeon R. Ponchax descoond Cam f18100 - 546 &17654

Requirad Sello Rean ALOTROO Genenal Tounal Account Reeaivable8200 Sales Debel Cradit a i 18200 Cosl of oods cold Menehondse imeny a412 12412 Cash Sales discount Acount Reaivabl S1765k 3. 546 8 200 Cash Acomts Rocaiucbl С. 18 200 18200 Explonelons 3 b. Sales discoun s 1s200x3) Cash (P18200 x97)