The following are transactions of the Morrison Company:

a. November 5: sold merchandise on account for $46,000 with terms of 3 / 15, n / 30.

b. November 20: payment was received on $32,000 worth of merchandise sold on November 5.

Required:

Record the appropriate amounts under the gross price and net price methods in the spaces below. For each method, write the amount to be debited or credited on the appropriate line for each account shown.

a.	To record sale on Nov. 5:
		Gross Price Method		Net Price Method
	Cash
	Accounts Receivable
	Sales
	Sales Discounts
	Allowance for Sales Discounts
	Sales Discounts Not Taken
	Sales Returns and Allowances
b.	To record payment received on Nov. 20:
		Gross Price Method		Net Price Method
	Cash
	Accounts Receivable
	Sales
	Sales Discounts
	Allowance for Sales Discounts
	Sales Discounts Not Taken
	Sales Returns and Allowances