Belkin Company offers a cash discount of 2% if payment is received within 15 days, with full payment due in 30 days. Belkin sold some merchandise to Alvarez Company for $10,000 on June 1. Read the fequirements. Requirement 1a. Suppose that on June 14, Alvarez Company paid the appropriate amount to Belkin. Prepare Belkin Company's journal entries on June 1 and June 14 assuming that Belkin used the gross method to account for cash discounts. (Record debits first, then credits. Explanations are not required.) Prepare the entry for June 1. Accounts Debit Credit June 1 Prepare the entry for June 14. Accounts Debit Credit June 14 Requirement 1b. Suppose that on June 14, Alvarez Company paid the appropriate amount to Belkin. Prepare Belkin Company's journal entries on June 1 and June 14 assuming that Belkin used the net method to account for cash discounts. Prepare the entry for June 1. Accounts Debit Credit June 1 Prepare the entry for June 14. Accounts Debit Credit June 14 Requirement 2a. Suppose instead, that on June 30 Alvarez Company paid the appropriate amount to Belkin. Prepare Belkin Company's journal entries on June 1 and June 30 assuming that Belkin used the gross method to account for cash discounts. (Record debits first, then credits. Explanations are not required.) Prepare the entry for June 1. Accounts Debit Credit June 1 Prepare the entry for June 30. Accounts Debit Credit June 30 Requirement 2b. Suppose instead, that on June 30 Alvarez Company paid the appropriate amount to Belkin. Prepare Belkin Company's journal entries on June 1 and June 30 assuming that Belkin used the net method to account for cash discounts. Prepare the entry for June 1. Accounts Debit Credit June 1 Prepare the entry for June 30. Accounts Debit Credit June 30 - Requirements 1. Suppose that on June 14, Alvarez Company paid the appropriate amount to Belkin. a. Prepare Belkin Company's journal entries on June 1 and June 14 assuming that Belkin used the gross method to account for cash discounts. b. Prepare Belkin Company's journal entries on June 1 and June 14 assuming that Belkin used the net method to account for cash discounts. Suppose instead, that on June 30 Alvarez Company paid the appropriate amount to Belkin. a. Prepare Belkin Company's journal entries on June 1 and June 30 assuming that Belkin used the gross method to account for cash discounts. b. Prepare Belkin Company's journal entries on June 1 and June 30 assuming that Belkin used the net method to account for cash discounts. 2. Print Done