Gordon$$s Grocers purchases bread from Buddy$$s Bread Company at $$2\mathrm{.}35$ per loaf. Gordon$$s recently engaged in a customer service contract with Buddy$$s to purchase $26,000$ loaves of Buddy$$s bread. Buddy offered credit to Gordon$$s at terms of $2/10,$ n$/30.$ Buddy expects Gordon to pay within the discount period.

Required:

Prepare the journal entry to record the sale using the gross method. Then, prepare the journal entry assuming the payment is made within $10$ days $($within the discount period$).$