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Brief Exercise 7-3 Kingbird Co. uses the net method to account for cash discounts. On...

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Accounting

Brief Exercise 7-3 Kingbird Co. uses the net method to account for cash discounts. On June 1, 2017, it made sales of $54,300 with terms 4/15, n/45. On June 12, 2017, Kingbird received full payment for the June 1 sale. Prepare the required journal entries for Kingbird Co. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work

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