Santa Fe Retailing purchased merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 3/10, 1/60 and an invoice price of $20,100. The merchandise had cost Mesa $13,708. Assume that both buyer and seller use a perpetual inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase. (b) cash payment within the discount period, and (c) cash payment after the discount period. 2. Prepare entries that the seller records for the (a) sale. (b) cash collection within the discount period, and (c) cash collection after the discount period Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (c) cash payment after the discount period. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 20,100 Merchandise inventory Accounts payable 20,100 b 20.100 Accounts payable Merchandise inventory Cash 2 Drau 15 Next > 5 complete this question by entering your answers in the tabs berow. Required 1 Required 2 Prepare entries that the seller records for the (a) sale, (b) cash collection within the discount period, and (c) cash collection after the discount period. View transaction list View journal entry worksheet nt NO Transaction General Journal Debit Credit 1 0-1 Accounts receivable Sales 20,100 20.100 2. 13.708 Cost of goods sold Merchandise Inventory 13.700 3 b Cash Sales discounts Accounts receivable 4 C Cash 20,100 Accounts receivable 20.100