Problem 3: On February 14, 2016, Prime Company sold 50 air-conditioning units to L&P Heating list for $700 each, but L&P was granted a 30% trade discount. All of Prime's sales are subject to terms 2/10, n/30. Prime uses the net method of accounting for sales discounts. and Cooling. The units Required: 1. Prepare the journal entry to record the sale. 2. Prepare the journal entry to record receipt of the payment, assuming the correct amount was received on February 22, 2016. 3. Prepare the journal entry to record receipt of the payment, assuming the correct amount was received on March 10, 2016