On July 1, Kitt Corp. made a sale of $446,000 to Hayford, Inc. on account. Terms of the sale were 3/10, 1/30. Hayford makes payment on July 29. Kitt uses most likely-amount method and assumes that the customer will take the discount when accounting for sales discounts. Ignore cost of goods sold and the reduction of inventory. a. Prepare all Kitt's journal entries. b. What net sales does Kitt report? a. Prepare all Kitt's journal entries. (Record debits first, then credits. Exclude explanations from any journal entries.) On July 1, Kitt Corp. made a sale of $446,000 to Hayford, Inc. on account. Terms of the sale were 3/10, 1/30. Account July 1 On July 29, Kitt records the payment by Hayford. Account July 29 b. What net sales does Kitt report? Kitt reports net sales of $