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32 On February 14. 2024, Prime Company sold 50 air-conditioning units to L&P Heating and Cooling. The units list for $700 each, but L&P was
32 On February 14. 2024, Prime Company sold 50 air-conditioning units to L\&P Heating and Cooling. The units list for $700 each, but L\&P was granted a 30% trade discount. All of Prime's soles are subject to terms 2/10.7/30. Prime uses the net method of accounting for sales discounts. Required: 10 points 1. Prepare the journal entry to record the sale. 2&3. Prepare the journal entries to record receipt of the payment, assuming the correct amount was received on February 22,2024 and March 10, 2024. Complete this question by entering your answers in the tabs below. Rea : Areq 2 and 3 Prepare the journal entry to record the sale. Note: If no entry is required for a transactionvevent, select "No journal entry required" in the first account field. Journal entry worksheet 1 Record the sale. Rea 2 and 3 Prepare the journal entries to record receipt of the parment, assuming the correct amount was received on February 22 , 2024 and March 10,2024 Noter If no entry is required for a transactionvevent, seiect "No joumal entry required" in the fint aceount field Journal entry worksheet Pecord recelpt of the payment, assuming the correct amount was received on February 22, 2024. Dale General Jaumat Dobil Cred: Req 2 and 3 Prepare the journal entries to record receipt of the payment, assuming the correct amount was recelved on February 22, 2024 an 10,2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record receipt of the payment, assuming the correct amount was recelved on March 10, 2024. Note: inter debits before credits
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