Presented below are two independent situations that occurred during the year.

1. On January 6, Nicklaus Co. sells merchandise on account to Watson Inc. for \(\$ 4,000\), terms \(2 / 10, \mathrm{n} / 30\). On January 16 , Watson pays the amount due. Prepare the entries on Nicklaus' books to record the sale and related collection.

2. On January 10, Margaret Giger uses her Salizar Co. credit card to purchase merchandise from Salizar Co. for \(\$ 11,000\). On February 10, Giger is billed for the amount due of \(\$ 11,000\). On February 12, Giger pays \(\$ 5,000\) on the balance due. On March 10, Giger is billed for the amount due, including interest at \(2 \%\) per month on the unpaid balance as of February 12. Prepare the entries on Salizar Co.'s books related to the transactions that occurred on January 10, February 12, and March 10.