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 $7,200, terms 2/10, n/30. On January 16, Pryor Inc. pays the amount due. Prepare the entries on Sheffields books to record the sale and related collection. (Omit cost of goods sold entries.)
(b)		On January 10, Andrew Farley uses his Wildhorse Co. credit card to purchase merchandise from Wildhorse Co. for $8,900. On February 10, Farley is billed for the amount due of $8,900. On February 12, Farley pays $4,600 on the balance due. On March 10, Farley is billed for the amount due, including interest at 1% per month on the unpaid balance as of February 12. Prepare the entries on Wildhorse Co.s books related to the transactions that occurred on January 10, February 12, and March 10. (Omit cost of goods sold entries.)

No.	Date	Account Titles and Explanation	Debit	Credit
(a)	choose a transaction date Jan. 6Jan. 10Jan. 16Feb. 10Feb. 12Mar. 10	enter an account title	enter a debit amount	enter a credit amount
		enter an account title	enter a debit amount	enter a credit amount
	Jan. 16	enter an account title for the journal entry on January 16	enter a debit amount	enter a credit amount
		enter an account title for the journal entry on January 16	enter a debit amount	enter a credit amount
		enter an account title for the journal entry on January 16	enter a debit amount	enter a credit amount
(b)	choose a transaction date Jan. 6Jan. 10Jan. 16Feb. 10Feb. 12Mar. 10	enter an account title	enter a debit amount	enter a credit amount
		enter an account title	enter a debit amount	enter a credit amount
	choose a transaction date Jan. 6Jan. 10Jan. 16Feb. 10Feb. 12Mar. 10	enter an account title	enter a debit amount	enter a credit amount
		enter an account title	enter a debit amount	enter a credit amount
	choose a transaction date Jan. 6Jan. 10Jan. 16Feb. 10Feb. 12Mar. 10	enter an account title	enter a debit amount	enter a credit amount
		enter an account title	enter a debit amount	enter a credit amount

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