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On December 29, 2020, Sabre Company sold merchandise for $3,200 on credit terms, 3/10, 1/60. The accounting period ends December 31, Provide the following entries
On December 29, 2020, Sabre Company sold merchandise for $3,200 on credit terms, 3/10, 1/60. The accounting period ends December 31, Provide the following entries under the gross method. Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account name and leave the Dr. and Cr, answers blank (zero). a. Record the 2020 sale.Omit the cost of good sold entry. Account Name Dr. Cr. . 0 0 b. Record collection of the account, assuming collection took place on January 5, 2021. Dr. Account Name Cr. Cash ooo c. Record collection of the account, assuming collection took place on April 1, 2021. Account Name Dr. Cr. 0 0 0 d. Indicate what should be reported on the balance sheet (ignoring cash) and income statement for both 2020 and 2021. Note: Indicate a contra account balance with a negative sign. 1. First assume parts a and boccur. Balance Sheet, Dec 31 2020 2021 0 0 Income Statement Sales Revenue, net 2020 2021 Canzo Indicate what should be reported on the balance sheet fignoring cash) and income statement for both 2020 and 2021 Note: indicate a contra account balance with a negative sign 1. First assume parts a and boccur. Balance Sheet, Dec 31 2021 0 Income Statement Sales Revenut, niet 2021 0 2021 0 2. Now assume parts a and coccur Balance Sheet, Dec 31 2020 + Income Statement 2020 Sales Revenus.net Please answer all parts of the question 2021 0 Previous Save Answers Next ty MacBook Air 90. 2 3 $ 4 % 5 6 & 7 00* 9 1 0 W E R T Y U a S D F . J L X C V B N
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