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On September 14, 2022, Oriole Company sells merchandise valued at $38400 on account to Pacifica Inc. with terms 2/10, n/30. Both Oriole and Pacifica

On September 14, 2022, Oriole Company sells merchandise valued at $38400 on account to Pacifica Inc. with terms 2/10, n/30. Both Oriole and Pacifica use the periodic inventory system. Pacifica remits payment to Sampson on September 23. Oriole's entry on that date is: Cash Sales Discounts Accounts Receivable 37632 768 38400 Accounts Receivable 38400 Cash 38032 Purchase Discounts 368 Cash Sales Discounts Accounts Payable 37632 768 38400

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