there are two photos because there are two requirements for the problem. But it is all one question.

Directions: Prepare the journal entries for the two cases below. Note that you will have THREE journal entries for EACH case (a TOTAL of SIX joumal entries are required to complete the case). There is a general journal on page two for you to use to prepare the journal entries. 1. Newton's Cycles sells inventory on credit terms of 2/15,N/30. A sale invoiced at $1,500 (cost of sales \$975) was made to a customer on February 1. The customer pays the account on February 9. Newton's Cycles uses a perpetual inventory system. Required Prepare the journal entry to record: a) The credit sale on February 1. b) The payment received by the customer on February 9. c) Now, assume the collection of the account was on March 2 instead of February 9. Prepare the joumal entry to record the payment received by the customer on March 2. 2. On March 4, Newton's Cycles purchased bicycles and accessories to sell from a supplier on credit, invoiced at $9,000; the terms were 3/10,N/30. Newton pays the account on March 12. Newton's Cycles uses a perpetual inventory system. Required Prepare the journal entry to record: a) The credit purchase on March 4. b) The payment of the account on March 12; c) Now, assume the payment of the account was on March 28 instead of March 12. Prepare the journal entry to record the payment made by Newton on March 28