On December $29$ of the current year, Sabre Company sold merchandise for $$5,000$ on credit terms, $\frac{3}{10},\frac{n}{60}.$ Its accounting period ends December $31.$

Required

Provide the following entries under the gross method.

a$.$ To record the merchandise sale. Omit the cost of goods sold entry.

b$.$ To record collection of the account, assuming collection took place on January $5$ of next year.

c$.$ To record collection of the account, assuming collection took place on February $15$ of next year.

Note: If a line in a journal entry isn't required for a transaction, select $"$N$/$A$"$ as the account name and leave the Dr$.$ or Cr$.$ answer blank $($zero$).$

$\backslash$table$[[$Account Name,Dr$.,],[$a$.$ Accounts Receivable,$5,000,0],[$Sales Revenue,$0,5,000],[$To record the merchandise sale.,,$0],[$b$.$ Cash,$4,850,0],[,0,0],[,0,0],[$To record collection of the account.,$5,000,5,000],[$c$.$ Cash,$0,],[$Accounts Receivable,,$],[$To record collection of the account.,,$]]$

d$.$ Indicate what should be reported for accounts receivable on the balance sheet $($ignoring cash$)$ and for net sales revenue on the income statement for both the current year and next year assuming

Parts a and $b$ occur.

Parts a and c occur.

Note: Indicate a contra account balance with a negative sign.

$\backslash$table$[[$d$.(1),$Balance Sheet, Dec $31,$Year $1,$Year $2],[$Accounts Receivable,$$,0,0,],[$Income Statement,Year $1,$Year $2,,],[$Sales Revenue, net,$0,0,,]]$

$\backslash$table$[[$d$.(2),$Balance Sheet, Dec $31,$Year $1,$Year $2],[$Accounts Receivable,$$,0,0,],[$Income Statement,Year $1,$Year $2,,],[$Sales Revenue, net,$0,0,,]]$