on June 3rd, hunt company sold to Ann Mount merchandise having a sale price of $8,000 with terms of 2/10, in / 60, f. O. B. Shipping point. An invoice totaling $120, terms in / 30, was received by mount on June 8th from the Olympic Transport service for the freight costs. Upon receipt of the goods, June 5th, Mount notified hunt company that merchandise costing $600 contain flaws that rendered it worthless. The same day, hunt company issued a credit memo covering the worthless merchandise and ask if that it be returned at company expense. The freight on the return merchandise was $24, paid by hunt company on June 7th. On June 12th, the company receive a check for the balance due for Mount. A. prepare journal entries for hunt company to record all the events noted above under each of the following bases. 1. sales in receivables are entered at gross selling price 6/3 2 journal entries 6/5 2 journal entries 6/7 2 journal entries 6/12 3 journal entries 2. sales in receivables are entered net of cash discounts. 6/3 2 journal entries 6/5 2 journal entries 6/7 2 journal entries 6/12 2 journal entries 2b. prepare the journal entry under basis (2), assuming that an Mount did not remove payment until August 5th. there are three journal entries