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Gross method for sales discounts The following were selected from among the transactions completed by Essex Company during March of the current year: Mar. 2.

Gross method for sales discounts

The following were selected from among the transactions completed by Essex Company during March of the current year:

Mar. 2. Sold merchandise on account to Parsley Co., $32,000, terms 1/10, n/30. The cost of the merchandise sold was $18,500.
8. Sold merchandise on account to Tabor Co., $24,000, terms 2/10, n/30. The cost of the merchandise sold was $14,400.
11. Received payment on account for the sale of March 2 less the discount.
20. Received payment on account for the sale of March 8.

Journalize the March transactions using the gross method of recording sales discounts. If an amount box does not require an entry, leave it blank.

Mar. 2 fill in the blank 2 fill in the blank 3
fill in the blank 5 fill in the blank 6
Mar. 2 fill in the blank 8 fill in the blank 9
fill in the blank 11 fill in the blank 12
Mar. 8 fill in the blank 14 fill in the blank 15
fill in the blank 17 fill in the blank 18
Mar. 8 fill in the blank 20 fill in the blank 21
fill in the blank 23 fill in the blank 24
Mar. 11 fill in the blank 26 fill in the blank 27
fill in the blank 29 fill in the blank 30
fill in the blank 32 fill in the blank 33
Mar. 20 fill in the blank 35 fill in the blank 36

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