Show all your work

Show all your work

3. Sales discount- allocate the following transactions into the correct part of the accounting equation and their correct T account a. Brown Company sold merchandise on account to Black Company $32,456 b. Black Company returned $10,121 worth of merchandise (account was credited) C. Brown Company received a check from Black Company less the returns with an 8% discount of 15/30

4. Purchase discount- allocate the following transactions into the correct part of the accounting equation and their correct t account a. On July 9, company White bought merchandise on account from Lois Cop, for $1,500; terms 3/10, n/30; dated June 10. FOB Kansas, freight prepaid and added to the invoice for $80. (Total $1,580). b. On July 12, issued a check no. 200 to Lois Cop, less cash discount.