Taos Company purchased merchandise for resale from Tuscon Company with an invoice price of $19,200 and credit terms of 2/10, n/60. The merchandise had cost Tuscon $13,094. Taos paid within the discount period. Assume that both buyer and seller use a perpetual inventory system

Taos Company purchased merchandise for resale from Tuscon Company with an invoice price of $19,200 and credit terms of 2/10, nV60. The merchandise had cost Tuscon $13,094. Taos paid within the discount period. Assume that both buyer and seller use a perpetual inventory system 1(a) Prepare entries that the buyer should record for the purchase (Omit the sign in your response. General Journal Debit Credit Cost of goods sold Accounts payable 1(b) Prepare entries that the buyer should record for the cash payment. (omit the sign in your response General Journal Debit Credit (Click to select) (Click to select) (Click to select) 2(a) Prepare entries that the seller should record for the sale. (Omit the sign in your response