Cornerstone Exercise 5-24 Sales Discounts Not Taken Bolton sold a customer service contract with a price of $37,000 to Sammy's Wholesale Company Bolton offered terms of 1/10, 1/30 and expects Sammy to pay within the discount period. Required: Prepare the foumal entry assuming the payment is made after 10 days (after the discount period). If an amount box does not require an entry, leave it than Cash 36,630 X Sales Revenue 370 Accounts Receivable 37.000 x Record collection of accounts receivable Check My W The gross method records the receivable at the grass (of undiscounted price. The discount is then recognized of payment is made within the discount period payment is not received until after the discount period, the full amount is paid