(Appendixes) SALES AND SALES RETURNS WITH DISCOUNTS. Fuente Office Supply sells all merchandise on credit with terms...

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(Appendixes) SALES AND SALES RETURNS WITH DISCOUNTS. Fuente Office Supply sells all merchandise on credit with terms 2/10, n/30. Fuente engaged in the following transactions:

a) May 1: Fuente sold 50 staplers to Aaron Enterprises at a list price of $12 per stapler.

b) May 5: Fuente accepted 4 staplers returned by Aaron Enterprises.

c) May 10: Aaron paid for the 46 staplers retained.

d) May 11: Fuente sold 25 filing cabinets to Buckles Corporation at a list price of $70 per cabinet.

e) May 23: Buckles returned 5 filing cabinets that it did not need.

f) June 4: Buckles paid for the 20 filing cabinets retained.

REQUIRED:

Prepare journal entries for each of these transactions, assuming that Fuente records sales using the gross method. LO4

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