Discount taken in next fiscal year The following data were extracted from the accounting records of Sacajawea Mercantile Co. for the year ended June 30, 2014: June 30, 2014 Balances Debit Credit Sales $10,000,000 Accounts Receivable $850,000 Allowance for Sales Discounts 400 Estimated sales discounts that will be taken in $7,000 fiscal year ending June 30, 2045: Assume that Mark Bishop pays his June 30, 2014, account receivable of $1,500 on July 6, 2014, and takes a 2% sales discount. Journalize the entry to record the payment on account from Mark Bishop. If an amount box does not require an entry, leave it blank. July 6 110 Customer refunds, allowances, and returns On February 18, Silverman Enterprises sold $24,000 of merchandise to Brewster Co. with terms 2/10, n/30. The cost of the merchandise sold was $12,200. On February 23, Silverman Enterprises issued Brewster Co. a credit memo for returned merchandise. The invoice amount of the returned merchandise was $3,000, and the merchandise originally cost Silverman Enterprises $1,800. a. Journalize the entries by Silverman Enterprises to record the February 18 sale. If an amount box does not require an entry, leave it blank. Feb. 18 Feb. 18 b. Journalize the entries by Silverman Enterprises to record the merchandise returned by Brewster Co. on February 23. If an amount box does not require an entry, leave it blank. Feb. 23 Feb. 23