On March 1, Sather Co. sold merchandise to Boone Co. on account, $29,800, terms 2/15, n/30. The cost of the merchandise sold is $18,300. The merchandise was paid for on March 14. Assume all discounts are taken.

Required:

Journalize the entries for Sather Co. and Boone Co. for the sale, purchase, and payment of amount due. Refer to the appropriate companys Chart of Accounts for exact wording of account titles.