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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& was granted
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\& 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. 28 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. Complete this question by entering your answers in the tabs below. Prepare the journal entry to record the sale. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 8. 3. Prepare the journal entries to record receipt of the payment, assuming the correct amount was received on February 22, and March 10, 2024. Complete this question by entering your answers in the tabs below. Prepare the journal entries to record receipt of the payment, assuming the correct amount was received on February 22, 2024 and March 10, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record receipt of the payment, assuming the correct amount was received on February 22, 2024. Note: Enter debits before credits, 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 recelved on Fe and March 10,2024. Complete this question by entering your answers in the tabs below. Prepare the joumal entries to record receipt of the payment, assuming the correct amount was received on February 22 , March 10, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record receipt of the payment, assuming the correct amount was received on March 10, 2024. Note: Enter debits before credits
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