·Question: ABC Inc. sold merchandise for $10,000 on credit. The cost of goods sold was $6,000. The customer pays the invoice within the discount period and receives a 2% discount. Calculate the amount received from the customer and the journal entry to record the transaction.

Requirements:

• Calculate the amount received from the customer after applying the discount.
• Provide the journal entry to record the sale and subsequent receipt.
• Use ABC Inc. for the company name.