Accounting for Sales on Credit: Net Method On December 29, 2020, Sabre Company sold merchandise for $8,000 on credit terms, 3/10, n/60. The accounting period ends December 31. Provide the following entries under the net method. Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account name and leave the Dr. and Cr. answers blank (zero). a. Record the 2020 sale. Omit the cost of good sold entry. Account Name Dr. Cr. Accounts Receivable 7.760 0 Sales Revenue 7,760 0 b. Record collection of the account, assuming collection took place on January 5, 2021. Account Name Dr. Cr. Cash 0 Accounts Receivable 8,000 X 0 Sales Discount Forfeited 7,760 X (60) X c. Record collection of the account, assuming collection took place on April 1, 2021. Account Name Dr. Cr. Bad Debt Expense 7,760 X 0 Interest Revenue 0 0 Accounts Receivable X 0 X 0 0 X 2021 0 2. Next, assume parts a and coccur. Balance Sheet, Dec 31 Accounts Receivable Income Statement Sales Revenue, net Other Revenue 2020 7.760 2020 7,760 0 2021 0 60 X