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2.5. On June 14, 2013, Rumsfeld Company sold 100 units of material to Powell Heating and Cooling on account. The units list for 12.000.000 (excluding 10% VAT). On June 15, Powell was granted a 25% discount on total amount of the invoice due to some defects in the material. On June 25, Powell had tranferred money to fully pay (net amount) for the goods. Required: Given the fact that Rumsfeld Company offers 1% discount for all of payment made within 15 day from shipping, prepare the journal entry to record the sale and the payment. 2.6 The following information is taken from the 2010 annual report to shareholders of Hewlett-Packard (HP) Co. For Fiscal 2010 For Fiscal 2009 Provision for doubtful accounts $ 156 million $345 million At Fiscal Year-end 2007 At Fiscal Year-end 2006 Accounts receivable, net 18,481 million 16,537 million Accounts receivable, gross 19,006 million 17,166 million 2.5. On June 14, 2013, Rumsfeld Company sold 100 units of material to Powell Heating and Cooling on account. The units list for 12.000.000 (excluding 10% VAT). On June 15, Powell was granted a 25% discount on total amount of the invoice due to some defects in the material. On June 25, Powell had tranferred money to fully pay (net amount) for the goods. Required: Given the fact that Rumsfeld Company offers 1% discount for all of payment made within 15 day from shipping, prepare the journal entry to record the sale and the payment. 2.6 The following information is taken from the 2010 annual report to shareholders of Hewlett-Packard (HP) Co. For Fiscal 2010 For Fiscal 2009 Provision for doubtful accounts $ 156 million $345 million At Fiscal Year-end 2007 At Fiscal Year-end 2006 Accounts receivable, net 18,481 million 16,537 million Accounts receivable, gross 19,006 million 17,166 million