Q8. Journalize the revenue recognized for each of following cases Q8a and Q8b. [ mark each]

Q8a. On Jan 5, 2018, SE Inc. sold $5,000 of merchandise to WP Co., on terms 1/10 n 30. The goods cost $2,000. Jan 5, 2018 Dr. Cr.

Q8b. On Feb 10, 2018, AP Inc, sold $74,000 of car parts to Maintenance Inc. To encourage sales AP offers rebates of 2% on purchases up to $60,000, and 3% on purchases above $60,000 if the customers purchases for the year exceed $200,000. Maintenance Inc. normally purchases over $300,000 worth of parts during a calendar year.

Feb 10 Dr. Cr.