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Golf World sold goods to Repulse Bay for $37,000, offering terms of 1/15, n/30. Repulse Bay paid for the goods within the discount period. Both

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Golf World sold goods to Repulse Bay for $37,000, offering terms of 1/15, n/30. Repulse Bay paid for the goods within the discount period. Both Prepare journal entries in the accounting records of Golf World to account for this sale and the subsequent collection. Assume the original cost of the goods to Golf World had been $24,050. (Omit the "$" sign in your response.) General Journal Debit Credit 37,000 Sales 37,000 Cost of goods sold 24.050 24,050 Sales discounts 37,000 b. Prepare journal entries in the accounting records of Repulse Bay to account for the purchase and subsequent payment. Repulse Bay records purchases of goods at net cost. (Omit the "$" sign in your response.) General Journal Debit Credit Cash Assume that, because of a change in personnel, Repulse Bay failed to pay for this goods within the discount period. Prepare the journal entry in the accounting records of Repulse Bay to record payment after the discount period. (Omit the "$" sign in your response.) General Journal Debit Credit to s Click to select) to select) 37,000

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