$($To record credit sale$)$

$($To record cost of merchandise sold$)$

Sal

Accounts Receivable

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List of Accounts

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$($b$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.The following transactions are for Wildhorse Company.

On December $3,$ Wildhorse Company sold $$$23,600$ of merchandise to Ayayai Co$.,$ on account, terms $\frac{3}{10},\frac{n}{30}.$ The cost of

the merchandise sold was $$363,200.$

On December $8,$ Ayayai Co$.$ was granted an allowance of $$34,300$ for merchandise purchased on December $3.$

On December $13,$ Wildhorse Company received the balance due from Ayayai $Co.$

$($a$)$

Your answer is partially correct.

Prepare the journal entries to record these transactions on the books of Wildhorse Company using a perpetual inventory system.

$($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry"

for the account titles and enter $0$ for the amounta$)$

No$.$

Date

Account Titles and Explanation

Debit

Accounts Receivable

Sales Revenue

$($To record credit sale$)$

$($To record cost of merchandise sold$)$