Best Baseball, Inc. is a retailer of sporting goods. The company uses a perpetual inventory

system, records purchases at net cost, and records sales revenue at full invoice price.

a$.$ Prepare the appropriate journal entry$($ies$)$ to record each of the following transactions.

You may omit explanations.

March $1$ Purchased ten catcher's mitts on account from Rawlings, Inc. The total

invoice price was $$150$ per mitt total$)$; terms of $\frac{2}{10},\frac{n}{60}.$

These mitts are intended for resale.

$2$ Determined that one of the catcher's mitts was defective and returned

it to Rawlings.

$5$ Sold four of the catcher's mitts to Brookhaven Baseball Academy. The

sales price was $$200$ per mitt $($$$800$ total$)$; terms of $\frac{1}{10},\frac{n}{30}.$

$9$ Brookhaven Baseball Academy returned two of the catcher's mitts. Best

Baseball allowed the customer full credit for the returned merchandise.

$11$ Paid the remaining amount owed to Rawlings, less the allowable

discount.

$15$ Received full payment from Brookhaven Baseball Academy, less the

allowable discount.

b$.$ Now, assume that Best Baseball, Inc. did not pay the remaining amount owed on March

$11,$ but rather on April $30.$ Prepare the appropriate journal entry to record in this case,

on April $30.$

c$.$ Now, assume that full payment was not received from Brookhaven Baseball Academy on

March $15,$ but rather on April $5.$ Prepare the appropriate journal entry to record in this

case, on April $5.$