on june 3, concord comoany sold to chester merchandise having a sale price of $5,500 with terms 2/10,n/60,F.O.B. shipping point. An invoice totalling $99, terms n/30, was received by chester on june 8 from john booth transportservice for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare joirnal entries on the concord company books to record all the events noted above under each of the following basis. 1.) sales and receivable are entered at gross selling price. (2). sales and receivable are entered at net cash discounts.