M6-9 Recording Journal Entries for Sales and Sales Discounts [LO 6-4] Merchandise costing $1,800 is sold for $2.800 on terms 2/10, n/30 lf the buyer pays within the discount period, prepare the journal entries needed at the time of sale and collection, assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 1 Record the sales on account of $2,800 on terms 2/10, n/30 Record the cost of goods sold of $1,800. Record during the discount period the payment in full for 2 3 the sales on account. Credit Note:- journal entry has been entered Record entry Clear entry View general journal