Coyote Company sold a merchandise costing $30,000 for $50,000 on credit to Beer Company on 4/1/2020. To expedite the cash payment, Coyote offered a cash discount of 3/15, n/30.

Instructions: prepare any necessary journal entries for the following transactions for the seller and the buyer using the net method.

1. The credit sale on 4/1/2020.
2. A receipt of the full payment if it is paid on 4/10/2020.
3. A receipt of the full payment if it is paid on 4/24/2020.