Our company uses the net method and offers customers a 3% discount if they pay within 15 days. Make journal entries for the following transactions: January 1. We sold merchandise for $100,000. on account. This merchandise had cost our company $65,000 to acquire from suppliers. (Use the perpetual method of accounting for inventory.) January 14. Our customer paid us the amount owed, taking the discount. May 27. Another customer has owed us $4,000 for more than two years. We decide to write off the account (allowance method) Jan 141 May 27