On October $5,$ Sally sold $150$ units to Barbie Company. The units have a list price of $$750$ each but Barbie was given a $35\%$ trade discount. The terms of the sale was $\frac{3}{10},\frac{n}{30}.$

Assuming that the net method of accounting for cash discount is used.

Required:

Prepare the journal entry to record the sale on October $5.$

Prepare the journal entry to record receipt of payments on October $13$

Prepare the journal entry to record receipt of payments on November $4.$

Refer to the question above, redo the above requirements, assuming that the gross method of accounting for cash discount is used.

$\backslash$table$[[$Date$,$Description,Debit,Credit$],[$October $5,,,],[$October $13,,,],[$November $4,,,]]$