On January 1, Vitamin Water Inc. sold merchandise for $2,800 on credit terms 2/10, n/45 Required Ignore cost of sales entries for each of the following requirements. Gross Method c. Under the net method, record (1) the sales transaction on January 1, and (2) the collection of the account, assuming collection took place on January 5. d. Under the net method, record (1) the sales transaction on January 1, and (2) the collection of the account, assuming collection took place on January 25. Ref. c1. Jan. 1 c2. Jan. 5 d1. Jan. 1 Net Method d2. Jan. 25 Account To record sale on account under the net method. Accounts Receivable + + + To record collection on account under the net method. To record sale on account under the net method. Cash + = + + + Sales Discount Forfeited Accounts Receivable To record collection on account under the net method. Dr. 0 0 0 0 0 0 2,744 56 0 Cr. 0x 0x 0x 0x 0x 0x 0x 0x 2,800 x

On January 1 , Vitamin Water inc, sold merchandise for $2.800 on credit terms 2/10,n/45 Required Ignore cost of sales entries for each of the following requirements. c. Under the net method, record (1) the sales transaction on january 1, and (2) the collection of the account, assuming collection took place on january 5. d. Under the net method, record (1) the sales transaction on january 1 , and (2) the collection of the account, assuming collection took place on january 25