GoodTire Inc. manufactures automobile tires. On August 1, 2017 the company sold 55 tires to Yellow Cab Company for $105 each. The terms of the sale were 2/10,n/30. GoodTire Inc. uses the gross method of accounting for cash discounts. The tires cost $50 each to manufacture. 1. Prepare the journal entry to record the sale. 2. Use the same facts, except assume GoodTire Inc. uses the net method of accounting for cash discounts. Prepare the journal entry to record the sale. SkiKirkwood, Inc. sells 2020 season passes on the last day of skiing of the 2019 season for $500 and this price includes the last day of the 2019 ski season for free. The average number of days that a customer uses their season pass is 10 days per season. The next ski season starts December 1, 2020 and runs through April 2021. What journal entries should Skikirkwood recognize upon receipt of payment and on the last day of the 2019 ski season? What journal entries should SkiKirkwood recognize for the first month of the 2020 season (December 2020)? Explain how you allocated revenue and the logic for why you chose that methodology