Sampson Co sold merchandise to Batson Co on account, $31,000, terms 2 15, n 45 The cost of the goods sold is $23,250 The Batson Co paid the invoice within the discount period Assume that both Sampson and Batson use a perpetual inventory system and that Sampson Co uses the net method of recording sales discounts If no entry is required, select No entry required and leave the amount boxes blank Question Content Area Journalize the entries that Sampson Company would record for the information above If an amount box does not require an entry, leave it blank Transaction Account Debit Credit a Accounts Payable Batson Co Accounts Receivable Batson Co SalesSales DiscountsNo entry required Accounts Payable Batson Co Accounts Receivable Batson Co SalesSales DiscountsNo entry required b Accounts Payable Batson Co Accounts Receivable Batson Co Cost of Goods SoldInventoryNo entry required Accounts Payable Batson Co Accounts Receivable Batson Co Cost of Goods SoldInventoryNo entry required c Accounts Payable Batson Co Accounts Receivable Batson Co CashSales Returns and AllowancesNo entry required Accounts Payable Batson Co Accounts Receivable Batson Co Cost of Goods SoldInventoryNo entry required Question Content Area Journalize the entries that Batson Company would record for the information above If an amount box does not require an entry, leave it blank Transaction Account Debit Credit a Accounts Payable Sampson Co Accounts Receivable Sampson Co CashInventoryNo entry required Accounts Payable Sampson Co Accounts Receivable Sampson Co CashInventoryNo entry required b Accounts Payable Sampson Co Accounts Receivable Sampson Co CashInventoryNo entry required Accounts Payable Sampson Co Accounts Receivable Sampson Co CashInventoryNo entry required c Accounts Payable Sampson Co Accounts Receivable Sampson Co CashInventoryNo entry required Accounts Payable Sampson Co Accounts Receivable Sampson Co CashCost of Goods SoldNo entry required Accounts Payable Sampson Co Accounts Receivable Sampson Co Cost of Goods SoldInventoryNo entry required

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Posted on Aug 08, 2024

Sampson Co. sold merchandise to Batson Co. on account, $31,000, terms 2/15, n/45.
The cost of the goods sold is $23,250.
The Batson Co. paid the invoice within the discount period.

Assume that both Sampson and Batson use a perpetual inventory system and that Sampson Co. uses the net method of recording sales discounts.

If no entry is required, select "No entry required" and leave the amount boxes blank.

Journalize the entries that Sampson Company would record for the information above. If an amount box does not require an entry, leave it blank.

Transaction	Account	Debit	Credit
a.	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.SalesSales DiscountsNo entry required
	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.SalesSales DiscountsNo entry required
b.	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.Cost of Goods SoldInventoryNo entry required
	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.Cost of Goods SoldInventoryNo entry required
c.	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.CashSales Returns and AllowancesNo entry required
	Accounts Payable-Batson Co.Accounts Receivable-Batson Co.Cost of Goods SoldInventoryNo entry required

Journalize the entries that Batson Company would record for the information above. If an amount box does not require an entry, leave it blank.

Transaction	Account	Debit	Credit
a.	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashInventoryNo entry required
	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashInventoryNo entry required
b.	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashInventoryNo entry required
	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashInventoryNo entry required
c.	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashInventoryNo entry required
	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.CashCost of Goods SoldNo entry required
	Accounts Payable-Sampson Co.Accounts Receivable-Sampson Co.Cost of Goods SoldInventoryNo entry required