Exercise 5-9 (Static) Recording sales, purchases, and cash discounts-buyer and seller LO P1, P2, Santa Fe fietailing purchased meichundise from Mest Wholesalers with credit terms of 3,10, nu60 and an invoice price of 524000 Tre merchandise had cost Mesa 516,000 . Assume that both buyer and seleer use a perpetual ifiventory system and the grow method 1. Prepare entries that the buyer records for the (a) purchase, ( cash payment wehin the discount period, and (d) cash peqment affer the discount period. 2. Prepare entries that the seller records for the (a) sale, (b) cash collection within the discount period, and (d) cash collection anter the discount period Coenplete this question by netering vour answnrs in than tabs below. discount peritiod. Journal entry worksheet flecerd Santa Fe thetalliog's purchase of merchandise "as ix" (with na retwrms) from thesa wholesaltes with credit terins of 3/10, Nies and al impice price of 524,000