PLEASE answer problem #5 & #10

Frepare entries that the soller rocords for the (a) sale, (b) cash collection within the discount periad, and (c) cash colectlen arter the discount period. Journal entry worksheet 4 Record the cost of the goods sold to Sante Fe, $16,000. Nolst Gner dehits hefere creats a. Compute the acid-test ratio for each of the separate cases above. b. Which company is in the best position to meet short-term obligations? Complete this question by entering your answers in the tabs below. Compute the acid-test ratio for each of the separate cases above. Prepare entries that the buyer records for the (a) purchasc, (b) cash payment wibin the discount period, and (c) cash payment arter ine discount period. Journal entry worksheet Record Santy fo Retailing's purchase of merchandise "as is" (w th no returns) from Mesa Wholesalers with credit terms of 3/10,n/50 and an invoice price of $24,000. Nost Eater detits tefore creduts. Propare entries that the seller rocords for the (o) salo, (b) cash collection within the discount period, and (c) cash collectian after the discount period. Journal entry worksheet 4 Record Mesa Wholesaler's sale of merchandise "as is" (with no returns) to Santa Fe Retailing with credit terms of 3/10,n/60 and an involce price of $24,000. Note: Fmer cebss before cresits: discouns penod. Journal entry worksheet Rocond Mesa's receipt of payment from Santa Fe aher the discaunt period Whei thter dokits tafote vedth. a. Compute the acid-test ratio for each of the separate cases above. b. Which company is in the best position to meet short-term obligations? Prepare entries that the buver records fer the (a) purchase, (b) cash poymest within the d scount period, and {c cash furme after the discourt perief. Journal entry worksheet Reterd parment by Sama fe after the discount period. Fatel trmer aebita betare ereats. Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 3170, n60 and an invoice price of $24,000, The merchandise had cost Mesa \$16,000. Assume that both buyer and seller use a perpotual inventory system and the gross method. 1. Prepare entries that the buyer records for the ( d ) purchase, (b) cash payment within the discount period, and (c) cmhr poyment affer the discount period. 2. Prepare entries that the seller records for the (a) sale, (b) cash collection within the discount period, and f c cash collection affer the discount period. Complete this question by entering your answers in the tabs below. Prepare entries that the buyer records for the (O) purchase, (0) eash peritent within the discount penod, and (c) cash payment atter the discount serios Journal entry worksheet Record paymenk by Senta fe within the discount period. Fixe: fiver detiks bebre oreds a. Compute the acidtest ratio for each of the separate cases above. b. Which compary is in the best position to meet shert-term obligatiens? Complete this question by entering vour answers in the tabs below. Which company is in the best position to meet short-term obsigations? oscount petiod. Journal entry worksheet Record Mesars rocoipt of permens from Sacta Fe within the diccourc penod