Flounder Co. uses the net method to account for cash discounts. On June 1, 2020, it made sales of $58,700 with terms 3/15, n/45. On June 12, 2020, Flounder received full payment for the June 1 sale.

Prepare the required journal entries for Flounder Co. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date Account Titles and Explanation Debit Credit

choose a transaction date enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount