blem 5-88A (Appendix 5A) Sales Discounts ins Company regularly provides services to Lauber Supply on terms 1/15, n/30 and records sales at gross uring a recent month, the two firms engaged in the following transactions l. Sims provided services with a list price of $85,000 2. Sims provided services with a list price of $30,000 3 Lauber paid for the purchase in Transaction a within the discount period. 4 Lauber paid for the purchase in Transaction b after the discount period Required: 1. For Sims Company Prepare the journal entries for Sims to record the sales in Transactions a and b (make separate entries) 1. 2. Prepare the journal entries to record the receipt of Lauber's payment in Transaction c and d. 2. For Lauber Supply, prepare the journal entries for making payments in Transactions c and d