i Requirements Prepare the journal entries for Canton Company for the sale of the merchandise, the cost of the sale, and the related receipt of payment from Spring Corporation. Assume that Spring Corporation takes the discount if payment is within the discount period. Indicate which company (Canton or Spring) owns the merchandise at the end of each of the following dates: a. April 3 b. April 4 c. April 10 (Assume that Canton Company uses the gross method of recording sales discounts.) Print | Done Done X S5-4 (similar to) Assigned Media Question Help On Apria Carrion Company sold $10,000 of merchandise on account to Spring Corporation forms 2/10, 130, FOB shipping point. Carton's cost of was for this merchandise was $4,000. The merchandise en Carton'facility on April 4 and arrived at Spring on April 10. Spring paid the invoice for the merchandise on April 11 Read the frontem Requirement 1. Prepare the journal entries for Carton Company for the sale of the merchandise the cost of the within the discount period the gross method to record the sales transactions. Record debts first, the credits Ex Prepare the journal entry for the sale of the merchandise. Do not record the cost of these we will do that in the and the rewed receipt of payment from Spring Corporation. Assume that spring Corporation takes the discount payment is p lanations from anyjournal entries) step) Journal Entry Debit Credit Accounts Receivable