16. Make the entry to record the receipt of payment from the customer for the sale recorded in #15. The payment was received on 2/27/20x5. (3.35 Points) Account/Description Debit Credit Illustrate how the above entry will affect the accounting equation (both amount and direction): Liabilities Owner's Equity Assets 15. On 2/18/20x5, a company sold merchandise on account for $37,200 with terms 2/15, 1/45. The cost of the merchandise sold was $21,510. Journalize the entry using the net method. (6.60 points) Date Account/Description Debit Credit Illustrate how the above entry will affect the accounting equation (both amount and direction) Liabilities Owner's Equity