Exercise 5.9 (Static) Recording sales, purchases, and cash discounts-buyer and seller LO P1, P2 5anta Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 30, n.60 and an imvoice price of 524,000 . The merchandise had cost Mesa $16,000. Assume that both buyer and seller use a perpetual inventory system and the gross method, 1. Prepare entries that the buyer records for the (d) purchase, (b) cash payment within the discount period, and (d) cash payment atter the discount period 2. Prepare entries that the selier records for the (d) sale, (b) cash collection within the discount period, and (d) cash collection affer the discount pertod Convlete this aquestion by entering your answers in the tabs below. Prepare entriet that the buyer recorde for the (a) purchsse, (b) cash payment wichin the dikcoum pentid, and (c) cash parmient ater the discount perices. Journal entry worksheet Record Sante fo Retaining't purchase of merchandius "as is" (with no returna) from resa Wholesalens with ciedit terms of 3/10, nue0 and an involce price of $24,000