The following are two independent situations. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.$)$

$($a$)$ On January $6,$ Sheffield Co$.$ sells merchandise on account to Pryor Inc. for $$11,700,$ terms $\frac{4}{10},\frac{n}{30}.$ On January $16,$ Pryor Inc. pays the amount due. Prepare the entries on Sheffield's books to record the sale and related collection.

$($b$)$ On January $10,$ Andrew Farley uses his Paltrow Co$.$ credit card to purchase merchandise from Paltrow Co$.$ for $$17,400.$ On February $10,$ Farley is billed for the amount due of $$17,400.$ On February $12,$ Farley pays $$8,700$ on the balance due. On March $10,$ Farley is billed for the amount due, including interest at $4\%$ per month on the unpaid balance as of February $12.$ Prepare the entries on Paltrow Co$.\text{'}$s books related to the transactions that occurred on January $10,$ February $12,$ and March $10.$

No$.$

Date

Account Titles and Explanation

Debit

Credit

$($a$)$

$($b$)$