Chapter 6 Merchandising Activities Golf World sold merchandise to Mulligans for $10,000, offering terms of 1/15, n/30. Mulli paid for the merchandise within the discount period. Both companies use perpetual invens systems a. Prepare journal entries in the accounting records of Golf World to account for this sale ands subsequent collection. Assume the original cost of the merchandise to Golf World ha bee $6,500 subsequent payment. Mulligans records purchases of merchandise at net cost within the discount period. Prepare the journal entry in the accounting records of Mulligans b. Prepare journal entries in the accounting records of Mulligans to account for the purchase au c. Assume that, because of a change in personnel, Mulligans failed to pay for this merchande record payment after the discount period. This selected information is from recent annual reports of the two largest retail pharmaccia companies in the United States. (Dollar amounts are stated in billions.) Walgreen Rite Ald Corpora