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4 Santa Fe Retailing purchased merchandise "as is" (with no returns) from Mesa Wholesalers with...

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4 Santa Fe Retailing purchased merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 2/10, n/60 and an invoice price of $20,100. The merchandise had cost Mesa $13,708. Assume that both buyer and seller use a perpetual inventory system and the gross method 1.25 points 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 Skipped Complete this question by entering your answers in the tabs below eBook Required 1 Required 2 Hint 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 Print View transaction list References Journal entry worksheet 4 Record Santa Fe Retailing purchased merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 2/10, n/60 and an invoice price of $20,100 Note: Enter debits before credits. Transaction General Journal Debit Credit a- Clear entry Record entry View general journal

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