Week $3$: Journalize the following sales transactions for Abel Boats. Explanations are not required.

Mar. $1$ Abel Boats sold $$220,000$ of boats on account, credit terms are $\frac{1}{15},\frac{n}{30}$ to Fresh Air Unlimited. Cost of goods is $$110,000.$

Mar. $12$ Abel Boats receives payment from Fresh Air Unlimited on the amount due, less the discount.

Mar. $1$: Abel Boats sold $$220,000$ of boats on account, credit terms are $\frac{1}{15},\frac{n}{30}$ to Fresh Air Unlimited. Cost of goods is $$110,000.$

Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step.