I need help with these two questions please! Help me! 1. value 1.42 points M6-9

Question

I need help with these two questions please! Help me! 1. value 1.42 points M6-9 Recording Joumal Entries for Sales and Sales Discounts [LO 6-4 Merchandise costing $1,800 is sold for $2,800 on terms 2/10, v/30. If the buyer pays within the discount period, prepare the joumal entries needed at the time of sale and collection, assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Miew transaction list Journal entry worksheet Record the sales on account of $2,800 on terms 2/10, n/30. Note: Enter debits before credits. Transaction General Journal Debit Credit

Explanation / Answer

Journal entry :

Note : Both question are individual question so please post next question individually for answer as per chegg policy

Date accounts & explanation debit credit Account receivable 2800 Sales revenue 2800 (To record sales) Cost of goods sold 1800 Merchandise inventory 1800 (To record cost of goods sold) Cash (2800*98%) 2744 Sales discount 56 Account receivable 2800 (To record amount received)

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