On February $14,2021,$ Prime Company sold $50$ air$-$conditioning units to L&P Heating and

Cooling. The units list for $$700$ each, but L&P was granted a $30\%$ trade discount. All of

Prime's sales are subject to terms $\frac{2}{10},\frac{n}{30}.$ Prime uses the net method of accounting for

sales discounts.

Required:

a$)$ Prepare the journal entry to record the sale.

b$)$ Prepare the journal entry to record receipt of the payment, assuming the correct amount was

received on February $22,2021.$

c$)$ Prepare the journal entry to record receipt of the payment, assuming the correct amount was

received on March $10,2021.$