Sampson Co. sold merchandise to Batson Co. on account, $28,400, terms 2/15, net 45 on December 26. The cost of the goods sold is $21,300. The Batson Co. paid the invoice on December 31, within the discount period. Assume both Sampson and Batson use a perpetual inventory system.

Required:

Prepare the entries that both Sampson and Batson Companies would record for the above. Refer to the Chart of Accounts for exact wording of account titles. If no entry is required, simply skip to the next transaction.