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Journal entry worksheet Record Santa Fe Retailing's purchase of merchandise as is (with no roturns) from Mesa Wholesalers with credit terms of 2/10,n/60 and an

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Journal entry worksheet Record Santa Fe Retailing's purchase of merchandise "as is" (with no roturns) from Mesa Wholesalers with credit terms of 2/10,n/60 and an invoice price of $24900 Note: Unter debits before ciedits. Journal entry worksheet Record payment by Santa Fe within the discount period. Note: Enter debits before credits. Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 210,n/60 and an Invoice price of $24,900. The metchandise had cost Mesa \$16,98? Assume that both buyer and celler use a periodic inventory system and the oross method. 1. Prepare entries that the buyer records for (0) the purchase, (b) cash payment within the discount period, and (c) cash payment affer the discount period. 2. Prepare entries that the seller records for (a) the sale, (b) cash collection within the discount period, and (c) cash collection after the discount period. Journal entry worksheet Record Mesa's receipt of payment from Santa Fe within the discount period. Note: Enter debits before credits. Record Mesa's receipt of payment from Santa Fe after the discount period. Note: Enter debits before credits

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