question 3

IGNMENT 0 Saved Hel Santa Fe Retalling purchased merchandise from Mesa Wholesalers with credit terms of 3/10, 1/60 and an invoice price of $24,000. The merchandise had cost Mesa $16,000. Assume that both buyer and seller use a perpetual Inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and ( 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 ( cash collection after the discount period Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries that the buyer records for the () purchase, (b) cash payment within the discount period, and (c) cash payment after the discount period. View transaction list Journal entry worksheet > IGNMENT Saved H Santa Fe Retalling purchased merchandise from Mesa Wholesalers with credit terms of 3/10, 1/60 and an invoice price of $24,000. Th merchandise had cost Mesa $16,000. Assume that both buyer and seller use a perpetual inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (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 (cash collection after the discount period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 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 View transaction list Journal entry worksheet > 2 3 Record payment by Santa Fe within the discount period. Note: Enter debits before credits Debit General Journal Transaction Credit b ASSIGNMENT Saved Hel Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 3/10, 1/60 and an invoice price of $24,000. The merchandise had cost Mesa $16,000. Assume that both buyer and seller use a perpetual Inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and ( 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 (a cash collection after the discount period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries that the buyer records for the () purchase, (b) cash payment within the discount period, and (c) cash payment after the discount period View transaction list Journal entry worksheet 2 3 Record payment by Santa Fe after the discount period. Note: Enter debits before credits Dobit Credit Transaction General Journal C Saved Help Santa Fe Retaling purchased merchandise from Mesa Wholesalers with credit terms of 3/10, 1/60 and an invoice price of $24,000. The merchandise had cost Mesa $15,000. Assume that both buyer and seller use a perpetual Inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (cash payment after the discount period. 2. Prepare entries that the seller records for the (a) sale (6) cash collection within the discount period, and (cash collection after the discount period. Complete this question by entering your answers in the tabs below. Required 1 Required 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. View transaction list Journal entry worksheet 1 2 3 4 > Record Mesa Wholesaler's sale of merchandise "as is" (with no returns) to Santa Fe Retailing with credit terms of 3/10, 1/60 and an invoice price of $24,000. Note: Enter debits before credits Transaction General Journal Debit Credit a-1 IGNMENT Saved Help Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 3/10,n/60 and an Involce price of $24,000. The merchandise had cost Mesa $16,000. Assume that both buyer and seller use a perpetual Inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase. (b) cash payment within the discount period, and ( cash payment after the discount period. 2. Prepare entries that the seller records for the (a) sale (6) cash collection within the discount perlod, and (cash collection after the discount period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries that the seller records for the () 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 the cost of the goods sold to Santa Fe, $16,000. Note: Enter debits before credits Debit Credit General Journal Transaction 0-2 1ENT Saved H Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 3/10, 1/60 and an invoice price of $24,000. Th merchandise had cost Mesa $16,000. Assume that both buyer and seller use a perpetual inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (a 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 ( cash collection after the discount period. Complete this question by entering your answers in the tabs below. Required 1 Required 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. View transaction ist Journal entry worksheet 2 3 4 Record Mesa's receipt of payment from Santa Fe within the discount period. Note: Enter debits before credits Debit General Journal Transaction Credit b Saved Help Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 3/10, 1/60 and an involce price of $24,000. The merchandise had cost Mesa $16,000. Assume that both buyer and seller use a perpetual inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (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 ( cash collection after the discount period Complete this question by entering your answers in the tabs below. Required 1 Required 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. View transaction list Journal entry worksheet Record Mesa's receipt of payment from Santa Fe within the discount period. Note: Enter debits before credits Debit General Journal Transaction Credit b https%253A%252F%252Fbbhosted.cuny.edu%252Fwebapps/252F GNMENT Saved Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 3/10, 1/60 and an involce price of $24,000. The merchandise had cost Mesa $16,000. Assume that both buyer and seller use a perpetual inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (cash payment after the discount period. 2. Prepare entries that the seller records for the (a) sale (6) cash collection within the discount period, and ( cash collection after the discount period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries that the seller records for the () sale, (b) cash collection within the discount period, and (c) cash collection after the discount period View transaction list Journal entry worksheet