Question 16 (2 points) Sarabeth sold goods to Izzy Corp. on account for $100,000. Sarabeth offers the following terms related to the sale: 5/10, n/60. Assume Sarabeth uses the gross method to accounts for cash discounts on sales. Please provide the journal entry Sarabeth will record upon the sale: Dr. Cash $95,000 Cr. Accounts Receivable $95,000 Dr. Accounts Receivable $95,000 Cr. Sales Revenue $95,000 Dr. Accounts Receivable $100,000 Cr. Sales Revenue $100,000 Dr. Sales Revenue $95,000 Cr. Cash $95,000 Question 17 (2 points) Sarabeth sold goods to Izzy Corp. on account for $100,000. Sarabeth offers the following terms related to the sale: 5/10, n/60. Assume Sarabeth uses the gross method to accounts for cash discounts on sales. Please provide the journal entry or entries Sarabeth will record if Izzy Corp. pays Sarabeth 15 days after the sale: Dr. Cash $95,000 Cr. Accounts Receivable $95,000 Dr. Cash $95,000 Cr. Sales Revenue $95,000 As soon as discount period expires: Dr. Accounts Receivable $5,000 Cr. Sales Discounts Forfeited $5,000 Cash receipt: Dr. Cash $100,000 Cr. Accounts Receivable $100,000 Dr. Cash $100,000 Cr. Accounts Receivable $100,000 Question 18 (2 points) Sarabeth sold goods to Izzy Corp. on account for $100,000. Sarabeth offers the following terms related to the sale: 5/10, n/60. Assume Sarabeth uses the gross method to accounts for cash discounts on sales. Please provide the journal entry or entries Sarabeth will record if Izzy Corp. pays Sarabeth 4 days after the sale: