Transactions for Buyer and Seller Wilmington Co. sold merchandise to Rather Co. on account, $5,900, terms 2/15, n/30. The cost of merchandise sold is $3,540. Assume all discounts are taken. Journalize Wilmington Co.'s entries for (a) the sale on account and (b) the collection of the amount due. (b) - Journalize Rather Co.'s entries for (a) the purchase of merchandise on account and (b) the payment of the amount due