1. Prepare entries that the buyer records for (a) the purchase. (b) cash payment within the discount period, and (c) cash payment after the discount period. 2. Prepare entries that the seller records for (a) the sale. (b) cash collection within the discount period, and (c) cash collection after the discount period. 5 SX Answer is not complete. / ES Complete this question by entering your answers in the tabs below. 5 Required 1 Required 2 Prepare entries that the seller records for (a) the sale, (b) cash collection within the discount period, and (c) cash collection after the discount period. No Transaction General Journal Debit Credit Accounts receivable 15,800 15,800 Sales 10.776 Cost of goods sold Merchandise inventory 10.776 Cash Sales discounts Accounts receivable 15.484 316 > 15,800 Santa Fe Retailing purchased merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 2/10, n/60 and an invoice price of $15.800. The merchandise had cost Mesa $10.776. Assume that both buyer and seller use a periodic inventory system and the gross method. 1. Prepare entries that the buyer records for (a) the purchase, (b) cash payment within the discount period, and (c) cash payment after the discount period. 2. Prepare entries that the seller records for (a) the sale. (b) cash collection within the discount period, and (c) cash collection after the discount period