Beetles Geophysics issues an invoice to Yukon Goldmines for $300,000 on August 5, 2012. The invoice states

Question:

Beetles Geophysics issues an invoice to Yukon Goldmines for $300,000 on August 5, 2012. The invoice states the payment terms to be 2/10 net 45. Yukon pays the invoice on August 14, 2012.
Required:
How should Beetles record the invoice and its subsequent collection if it uses (a) the gross method or (b) the net method?