Santa Fe Retaling purchased merchandise from Mesa Wholesalers with credit terms of 2/10,n/60 and an invoice price of $25,400. The merchandise had cost Mesa $17,323. 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 (a 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 ( 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 Journal entry worksheet 1 2 3 Record Santa Fe Retailing's purchase of merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 2/10, n/60 and an invoice price of 525,400. Note: Enter debits before credits Transaction General Journal Debit Credit a Record entry Clear entry View general joumal Required 2 > Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 2/10,n/60 and an invoice price of $25,400. The merchandise had cost Mesa $17,323. 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 (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 (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 Journal entry worksheet 1 2. 3 Record payment by Santa Fe within the discount period. Note: Enter debits before credits Debit General Journal Transaction Credit Record entry Clear entry View general journal Required 2 > Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 2/10,n/60 and an involce price of $25,400. The merchandise had cost Mesa $17,323. 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. cash payment within the discount period, and () 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 (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 Journal entry worksheet Record payment by Santa Fe after the discount period. Note: Enter debits before credits Debit General Journal Transaction Credit Record entry Clear entry View general journal Regled Required 2 > Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 2/10,n/60 and an invoice price of $25,400. The merchandise had cost Mesa $17,323. 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 (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 (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 seller records for the (a) sale, (b) cash collection within the discount period, and (c) cash collection after the discount period. View transaction list Journal entry worksheet 1 2 3 4 Record Mesa's receipt of payment from Santa Fe within the discount period. Note: Enter debits before credits Debit Credit Transaction General Journal b Record entry Clear entry View general journal