Presented below is information fromBonitaComputers Incorporated.

July 1Sold $16,000of computers to Robertson Company with terms3/15, n/60.Bonitauses the gross method to record cash discounts.Bonitaestimates allowances of $1,040will be honored on these sales.

10Bonitareceived payment from Robertson for the full amount owed from the July transactions.17Sold $160,000in computers and peripherals to The Clark Store with terms of2/10, n/30.30The Clark Store paidBonitafor its purchase of July 17.

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