CCM Corporation a manufacturer of furnaces sold 200 units to a customer on April 6,2016. The units have a list price of $800 each, but the customer was given a trade discount. The terms of the sale were 1/10, n30.

Prepare journal entries to record the sale on April 6 (ignore cost of goods) and payment on April 16, 2016, assuming that the gross method of accounting for cash discounts is used.

Prepare journal entries to record the sale on April 6 (ignore cost of goods) and payment on May 6, 2016, assuming that the gross method of accounting for cash discounts is used.

Repeat requirement 1 &2, assuming that the net method of accounting for cash is used

*please explain all calculations