Exerclse 5-9 (Algo) Recording sales, purchases, and cash dlscounts-buyer and seller LO P1, P2 Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 2/10, n/60 and an invoice price of $29,600. The merchandise had cost Mesa $20,187. 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 (d) cash payment anter the discount period. 2 Prepare entries that the seller records for the (a sale, (b) cash collection within the discount period, and id cash collection after the discount period. Complete this question by entering your answers in the tabs below. 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. Journal entry worksheet Record Santa Fe Retailing's purchase of merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 2/10,n/60 and an invoice price of $29,600. Nale: Enler aedis Delaie cedis. Journal entry worksheet Record payment by Santa Fe within the discount period. Nale: Enle' devils defale cedis. Journal entry worksheet 1 Record payment by Santa Fe after the discount period. Nale: Enler aedizs delale ciedis. Exerclse 5-9 (Algo) Recording sales, purchases, and cash dlscounts-buyer and seller LO P1, P2 Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 2/10, n 760 and an invoice price of $29,600. The merchandise had cost Mesa $20,187. 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 (d) cash payment ater the discount period. 2 Prepare entries that the selierrecords for the (a sale, (b) cash collection within the discount period, and (d) cash collection ater the discount period. Complete this question by entering your answers in the tabs below. 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. Journal entry worksheet 4 Record Mesa Wholesaler's sale of merchandise "as is" (with no returns) to Santa Fe Retailing with credit terms of 2/10,n/60 and an invoice price of $29,600. Nale: Enler aediz befare creais. Exerclse 5-9 (Algo) Recordlng sales, purchases, and cash dlscounts-buyer and seller LO P1, P2 Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 2/10,n/60 and an invoice price of $29,600. The merchandise had cost Mesa $20,187. 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 id cash payment ater 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 atter the discount period. Complete this question by entering your answers in the tabs below. Prepare entries that the seller records for the (a) sale, (b) cash collection within the discount period, and (c) cash collection after the discount period. Journal entry worksheet
