On Feb 17, Sams Toy's bought $30,000 of goods with terms of 2/10, n30. One-half of the bill was paid
on Feb 24 and the rest was paid on Feb 30. Assume that the seller agreed to grant discounts on partial payments.
Required:
Prepare Sams journal entries for Feb 17, Feb 24, and Feb 30 under the:
a = Gross method
b = Net method