Accounting for Sales on Credit: Gross Method On December 29 of the current year, Sabre Company soid merchandise for $12,000 on credit terms, 3/10,n/60. Its accounting period ends December 31. Required Provide the follawing entries under the gross method. a. To record the merchandise sale. Omit the cost of goods sold entry. b. Ta recard collection of the account, assuming collection tack place on January 5 of next year. c. To record collection of the account, assuming collection took place on Februay 15 of next year. - Note: If a line in a journal entry isnt required for a transaction, select "N/A" as the account name and leave the Dr. ar Cr. answer blank (zerol. d. Indicate what should be reported for accounts receivable on the talanee sheet (ignoring gash) and for net sales reveruee on the incame staternent for both the current year and next year assuming 1. Parts a and b occur. 2. Parts a and coccur. - Note: Indicate a contra account balance with a negative sipen. Cash Accounts Receivable Allowance for Doubtful Accounts Interest Receivable Receivable from Factor Note Receivable Discount on Note Receivable Payable to Seller of Receivables Refund Liability Recourse Liability Note Payable Sales Revenue Sales Returns Sales Discount Sales Discount Forfeited Financing Revenue Interest Revenue Cost of Goods Sold Bad Debt Expense Finance Expense Interest Expense Loss on Sale of Note Loss on Sale of Receivables N/A