eBook My Home CengageNow 21 Online teaching and learn Gross method for sales discounts The following were selected from among the transactions completed by Essex Company during March of the current year Mar. 2. Sold merchandise on account to Parsley Co., $32,000, terms 1/10, 1/30. The cost of the merchandise sold was $18,500 8. Sold merchandise on account to Tabor Co., $24,000, terms 2/10, 1/30. The cost of the merchandise sold was $14,400. 11. Received payment on account for the sale of March 2 less the discount. 20. Received payment on account for the sale of March 8. Journalize the March transactions using the gross method of recording sales discounts. If an amount box does not require an entry, leave it blank Mar. 2 Accounts Payable-Parsley Co. Mar 2 Mar B II II II 100 11 11 110 Mar 8 Mar 11 Previous Check My Work box does not require an entry, leave it Mar. 2 Mar. 8 JI II II II III II Mar. 8 Mar. 11 II III II Mar. 20 Check My Work All work saved