On April 3, Carter Company sold $ 45,000 of merchandise on account to Damper Corporation, terms 4/10, n/30, FOB shipping point. Carter's cost of sales for this merchandise was $ 39,000. The merchandise left Carter's facility on April 4 and arrived at Damper on April 10. Damper paid the invoice for the merchandise on April 11.

Requirement 1. Prepare the journal entries for Carter Company for the sale of the merchandise, the cost of the sale, and the related receipt of payment from Damper Corporation. Assume that Damper Corporation takes the discount if payment is within the discount period. (Use the gross method to record the sales transactions. Record debits first, then credits. Exclude explanations from any journal entries.)

Prepare the journal entry for the related receipt of payment from Damper Corporation. Assume that Damper Corporation takes the discount if payment is within the discount period.

Requirements 1. Prepare the journal entries for Carter Company for the sale of the merchandise, the cost of the sale, and the related receipt of payment from Damper Corporation. Assume that Damper Corporation takes the discount if payment is within the discount period. 2. Indicate which company (Carter or Damper) owns the merchandise at the end of each of the following dates: a. April 3 b. April 4 C. April 10 (Assume that Carter Company uses the gross method of recording sales discounts.) Prepare the journal entry for the sale of the merchandise. (Do not record the cost of the sale, we will do that in the next step.) Journal Entry Date Accounts Debit Credit April 4 Prepare the journal entry for the cost of the sale. Journal Entry Date Accounts Debit Credit April 4 Journal Entry Date Accounts Debit Credit April 11 Requirement 2. Indicate which company (Carter or Damper) owns the merchandise at the end of each of the following dates: a. April 3 b. April 4 C. April 10 Choose from any list or enter any number in the input fields and then continue to the next