Exercise 5-6 Recording sales, purchases, and cash discounts-buyer and seller LO P1, P2 Santa Fe Retaling purchased merchandise "as is" with no retutns) from Mesa Wholesalers with credit terms of 2/10, n/60 and an invoice price of $16,700. The merci tandise had cost Mesa $11,389. Assume that both buyer and seller use a perpetual inventory system and the gross method 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (c) cash payment after the discount period 2. Prepare entries that the seller records for the (a) sale. (b) cash collection within the discount period, and (c) cash collection atter the discount period Complete this question by entering your answers in the tabs below. Required Required 2 Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (c) cash payment after the discount period Vution in View journal entry worksheet General Journal Credit No sation Debit 18.700 Merchandise inventory Accounts payable 16.700 Prax 4 of 9 Next > Help 4 Journal entry worksheet 2 3 10 points Record Santa Fe paid within the discount period, eBook Note: Enter debits before credits Hint Print General Journal Dobit Credit Transaction b References Record entry Clear entry View general Journal Required 2 > 4 Joumal entry worksheet 3 10 points Record Santa Fe paid after the discount period. eBook Note: Enter debits before credits Hint Print Transaction General Journal Debit Credit References Record entry Clear entry View general jou Required 25 Prey Next Prepares that the seller records for the (a) sale, (b) cash collection within the discount period, and (c) cash discount punod View transaction list nis Journal entry worksheet eBook Hint 2 3 Print References Record Santa Fe Retailing purchased merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 2/10, 1/60 and an invoice price of $16,700. Note: Enter debits before credits Transaction General Journal Dobit Credit 2-1 Record entry Clear and View general Journal Pray 4 of 9 Next MacBook Air Prepare rules that the seller records for the (a) sale, (b) cash collection within the discount period, and (c) cash discount period View transaction list eBook Journal entry worksheet Hint cerca con collection within the discount pend, and Ciscount period 10 points View transagtion list eBook Journal entry worksheet maar ook Air Prepare tries that the seller records for the a) sale, (b) cash collection within the discount period, and (c) cash colle discount period View transaction list Journal entry worksheet 1 2 3 Record cash received after discount period. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clenrantry View general Journal Piex Next