Schofield Co. sold merchandise on account to Bernard Retail Inc. for $10,000, terms 2/10, n/30. The cost of the merchandise sold was $7,500. Assume that Schofield Co. uses the gross method of recording sales discounts. Illustrate the effects on the accounts and financial statements of Schofield Co. for

(a) The sale, including the cost of the merchandise sold, 

(b) The receipt of payment assuming it is made within the discount period, 

(c) The receipt of payment assuming it is made beyond the discount period.