On August 12, Espresso Inc. sells merchandise worth $20,000 (gross sales price) to Crescendo Inc., terms 4/10, Problem 8-61 n/30. Espresso grants cash discounts on amounts paid within the discount period. Espresso estimates unrecorded Aralying Financial Results of Merchandising retums at the end of the reporting period. Transactions Under the Gross and Not Required a. Prepare Espresso's journal entries (ignoring cost of goods sold) for the following transactions under the gross method. b. Prepare Espresso's journal entries (ignoring cost of goods sold) for these transactions under the net method. c. Prepare a table showing the effect on Espresso's sales, sales returns and allowances, sales discounts, sales discount forfeitures, and the net effect on revenue under both the gross method and net method (ignoring cost of goods sold)