Appendix 1: Net method for sales discounts Schofield Co. sold merchandise on account to Bernard Retail Inc. for $15,000, terms 2/10, n/30. The cost of the merchandise sold was $8,000. Assuming Schofield Co. uses the net method of recording sales discounts. a. Journalize the entries to record the sale. If an amount box does not require an entry, leave it blank. Account Debit Credit b. Journalize the receipt of payment within the discount period. If an amount box does not require an entry, leave it blank. Account Debit Credit c. Journalize the receipt of payment assuming it is made beyond the discount period. If an amount box does not require an entry, leave it blank. Account Debit Credit Appendix 1: Gross method for sales discounts Schofield Co. sold merchandise on account to Bernard Retail Inc. for $15,000, terms 2/10, n/30. The cost of the merchandise sold was $8,000. Assuming Schofield Co. uses the gross method of recording sales discounts. a. Journalize the entries to record the sale. If an amount box does not require an entry, leave it blank. Account Debit Credit b. Journalize the receipt of payment within the discount period. If an amount box does not require an entry, leave it blank. Debit Credit Account c. Journalize the receipt of payment assuming it is made beyond the discount period. If an amount box does not require an entry, leave it blank. Debit Credit Account