On February 14, 2024, Prime Company sold 50 air-conditioning units to L&P Heating and Cooling. The units list for $800 each, but L&P was granted a 30% trade discount. All of Prime's sales are subject to terms ²/₁₀ , ⁿ/₃₀ . Prime uses the net method of accounting for sales discounts.

Required:

1. Prepare the journal entry to record the sale.

2 & 3. Prepare the journal entries to record receipt of the payment, assuming the correct amount was received on February 22, 2024 and March 10, 2024.