I need help with requirements a,b, and c

Kraft Company offers volume discounts to its customers. Customers buying more than $100,000 in products receive a 4% discount. Customers buying more than $200,000 in products receive a 5% discount. Kraft also offers sales discounts with payment terms of 12/10, n/30. Kraft uses the most-likely-amount method and assumes that the customer will take the discount to account for the sales discounts. On July 2, Kraft made sales of $242,500 on account to Fava Company. Fava paid $150,300 on July 12 and the remaining balance on August 1, Read the requirements Requirement a. What is the volume discount? What is the sales discount? What is the journal entry when the sale is initially recorded on July 2? Ignore the effect on inventory and cost of goods sold. The volume discount is $ 12,125 and the sales discount is 18036 Requirements a. What is the volume discount? What is the sales discount? What is the journal entry when the sale is initially recorded on July 2? Ignore the effect on Inventory and cost of goods sold. b. What is the journal entry on July 12? c. What is the journal entry on August 1? Print Done