Knowledge Check 01 On June 13 of the current year, Kensington Factory sold merchandise to a customer for $8,000 with credit terms 2/10, n/30. The customer paid the full amount due on June 20. Kensington uses the gross method of accounting for cash discounts. Prepare the appropriate journal entry dated June 20. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete but not entirely correct. No Event General Journal Credit Sales discounts Cash Accounts receivable Debit 1,600 6,400 8,000