For each of the transactions below, record the required journal entry for Scully Company under 1) the gross method and 2) the net method. Ignore the seller's cost of goods sold entry.

Jan. 2: Scully Company sells Bismith Company goods for $300, terms 2/10, n/30.

Jan. 5: Scully Company sells Baxter Company goods for $500, terms 1/10, n/60.

Jan. 10: Bismith Company pays for the January 2^nd purchase.

February 9: Baxter Company pays for the January 5^th purchase.