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On March 1st Billy's Books sells goods with a retails price of $1,000 to Books Online. The terms of deal are 3/15, n/45. Q1. Assume

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On March 1st Billy's Books sells goods with a retails price of $1,000 to Books Online. The terms of deal are 3/15, n/45. Q1. Assume Billy's Books uses the gross method to accounts for cash discounts on sales. Please provide the journal entry Bill's Books will record on March 1st: Q2. Assume Billy's books uses the gross method to accounts for cash discounts on sales. Please provide the journal entry Bill's Books will record if Books Online pays Bill's Books on March 31st: Q3. Assume Billy's books uses the gross method to accounts for cash discounts on sales. Please provide the journal entry Bill's Books will record if Books Online pays Bill's Books on March 10th: Q4. Assume Billy's books uses the net method to accounts for cash discounts on sales. Please provide the journal entry Bill's Books will record on March 1st

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