Merchandise costing $2,300 is sold for $3,300 on terms 2/30, 1/60. If the customer pays within the discount period. Prepare the ournal entries needed at (a) time of sale and (b) collection of payment from the customer , assuming the company uses a perpetual nventory system with the gross method of recording sales discounts. (If no entry is required for a transaction/event, select "No Hournal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the sales on account of $3,300 on terms 2/30, 1/60. Note: Enter debits before credits. General Journal Debit Credit Transaction a(1) 3,300 Accounts Receivable Sales Revenue 3,300 Record entry Clear entry View general Journal Merchandise costing $2,300 is sold for $3,300 on terms 2/30, 1/60. If the customer pays within the discount period. Prepare the journal entries needed at (a) time of sale and (b) collection of payment from the customer, assuming the company uses a perpetual inventory system with the gross method of recording sales discounts. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 3 Record the cost of goods sold of $2,300. Note: Enter debits before credits Credit Transaction a(2) General Journal Cost of Goods Sold Inventory Debit 2,300 2,300 Record entry Clear entry View general journal Merchandise costing $2,300 is sold for $3,300 on terms 2/30, 1/60. If the customer pays within the discount period. Prepare the journal entries needed at (a) time of sale and (b) collection of payment from the customer, assuming the company uses a perpetual inventory system with the gross method of recording sales discounts. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record receipt of payment for sales on account. Note: Enter debits before credits General Journal Transaction b Debit Credit Cash Accounts Receivable 3.234 3,300 Record entry Clear entry View general Journal