Buckaroo Company and Yearling Company entered into the following transactions:
a. Buckaroo Company sold merchandise to Yearling Company for $135,000, terms 2/10, n/30.
b. Prior to payment, Yearling Company returned $14,000 of the merchandise for credit.
c. Yearling Company paid Buckaroo Company in full within the discount period.
d. Yearling Company paid Buckaroo Company in full after the discount period. [Assume that transaction (c) did not occur.]
Required:
Prepare journal entries to record the transactions for Buckaroo Company (the seller).