1. Pound Foolish Co. sold merchandise to Penny Wise Co. on account, $38,200, terms 1/15, net 45. Pound Co. paid the invoice within the discount period. Assuming the net method, what is the sales amount to be recorded in the above transactions? a. $37,818 b. $38,200 c. $37,436 d. $38,582 2. Greenfield Company purchases merchandise with a catalog list price of $50,000. The retailer receives a 45% trade discount and credit terms of 3/10, n/30. Assuming the net method, what amount should Greenfield debit to the Inventory account? a. $48,500 b. $21,825 c. $50,000 d. $26,675