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a. Sampson Co. sold merchandise to Batson Co. on account, $34,000, terms 215,n45. ...

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Accounting

a. Sampson Co. sold merchandise to Batson Co. on account, $34,000, terms 215,n45.
b. The cost of the goods sold is $25,500.
c. The Batson Co. paid the invoice within the discount period.
Assume that both Sampson and Batson use a perpetual inventory system and that Sampson Co. uses the net method of recording sales discounts.
If no entry is required, select "No entry required" and leave the amount boxes blank.
Journalize the entries that Sampson Company would record for the information above. If an amount box does not require an entry, leave it blank.
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