On June $3,$ Blossom Company sold to Chester Company merchandise having a sale price of $$6,000$ with terms of $\frac{4}{10},\frac{n}{60},$ f$.$o$.$b$.$ shipping point. An invoice totalling $$93,$ terms $\frac{n}{30},$ was received by Chester on June $8$ from John Booth Transport Service for the freight cost. On June $12,$ the company received a check for the balance due from Chester Company.

$($a$)$

Prepare journal entries on the Blossom Company books to record all the events noted above under each of the following bases.

$(1)$ Sales and receivables are entered at gross selling price.

$(2)$ Sales and receivables are entered at net of cash discounts.

$($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.$)$

No$.$ Date Account Titles and Explanation Debit

Cred

$(1)$ sold merchandise with terms of $4/10,$ n$/60,$ f$.$o$.$b$.$

No Entry

m$/$was$/$ui$/$v$2/$assessment$-$player$/$index$.$html$/?$launchld$=7$c$27336$d$-$fc$52-493$c$-$b$2$e$8-$d$6$e$311$ e$2$c$900$#$/$question$/2$stion $3$ of $6(2)$eTextbook and MediaList of ACcountsNo Entry$-/7\mathrm{.}5$ EAssistance Used

Prepare the journal entry under basis $2,$ assuming that Chester Company did not remit payment until July $29.($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

Date Account Titles and Explanation

Debit

Credit

July $29$