4.

. Sold merchandise on account, $13,300, with terms 2/10, net 30. The cost of the merchandise sold was $8,645.

Sale	Accounts PayableAccounts ReceivableCashSalesSales Discounts	- Select -
	Accounts ReceivableCashCost of Merchandise SoldSalesSales Discounts		- Select -
Cost	Accounts PayableCashCost of Merchandise SoldMerchandise InventorySales Discounts	- Select -
	Accounts PayableCashCost of Merchandise SoldMerchandise InventorySales Discounts		- Select -

b. Received payment within the discount period.

	Accounts ReceivableCashCost of Merchandise SoldMerchandise InventorySales	- Select -
	Accounts ReceivableCashCost of Merchandise SoldMerchandise InventorySales		- Select -

5.

1. Assume both Sampson and Batson use a perpetual inventory system.

   Prepare the entries that Sampson Co. would record for the information above.

   a.	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.Cost of Merchandise SoldSalesSales Discounts	- Select -
   	Accounts Payable-Batson Co.CashSalesSales DiscountsSales Returns and Allowances		- Select -
   b.	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.Cost of Merchandise SoldMerchandise InventorySales	- Select -
   	Accounts Payable-Batson Co.CashCost of Merchandise SoldMerchandise InventorySales Discounts		- Select -
   c.	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.CashCost of Merchandise SoldSales	- Select -
   	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.CashSales DiscountsSales Returns and Allowances		- Select -

   Prepare the entries that Batson Co. would record for the information above.

   a. and b.	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashMerchandise InventorySales	- Select -
   	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashMerchandise InventorySales		- Select -
   c.	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashMerchandise InventorySales	- Select -
   	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashMerchandise InventorySales		- Select -

5.

1. Sampson Co. sold merchandise to Batson Co. on account, $21,900, terms 2/15, net 45.
2. The cost of the merchandise sold is $16,425.
3. Batson Co. paid the invoice within the discount period.

Assume both Sampson and Batson use a perpetual inventory system.

Prepare the entries that Sampson Co. would record for the information above.

a.	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.Cost of Merchandise SoldSalesSales Discounts	- Select -
	Accounts Payable-Batson Co.CashSalesSales DiscountsSales Returns and Allowances		- Select -
b.	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.Cost of Merchandise SoldMerchandise InventorySales	- Select -
	Accounts Payable-Batson Co.CashCost of Merchandise SoldMerchandise InventorySales Discounts		- Select -
c.	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.CashCost of Merchandise SoldSales	- Select -
	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.CashSales DiscountsSales Returns and Allowances		- Select -

Prepare the entries that Batson Co. would record for the information above.