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Prepare the journal entry under basis $2,$ assuming that Chester Company did not remit payment until July $29.($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.$)/$r$/$n On June $3,$ Blossom Company sold to Chester Company merchandise having a sale price of $\backslash (\backslash$$ $2,200\backslash )$ with terms of $\backslash (4/10\backslash ),$ n$/60.$ f$.$o$.$b$.$ shipping point. An invoice totaling $\backslash (\backslash$$ $97\backslash ),$ terms $\backslash ($ n $/30\backslash ),$ was received by Chester on June $8$ from John Booth Transport Service for the freight cost. On June $12,$ the company received a check for the balance due from Chester Company. $($a$)$ Youranswer is correct Prepare journal entries on the Blossom Company books to record all the events noted above under each of the following bases. $(1)$ Sales and receivables are entered at gross selling price. $(2)$ Sales and receivables are entered at net of cash discounts. $($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.$)/$r$/$n $($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.$)$Attempts: $6$ of $15$ used

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