Eatable Company engaged in the following transactions during the month of July: July 1 Sold merchandise to A Company for P50,000, 2/10, n/30. 2 Sold merchandise to B Company for P200,000, 2/10, n/30. 12 Received payment from B Company for the July 2 sale. 30 Received payment from A Company for the July 1 sale. a. Prepare journal entries using gross method. b. Prepare journal entries using net method