Question: Information from Salini Computers Ltd. follows: Instructions (a) Prepare the entries for Salini Computers Ltd., assuming the gross method is used to record sales and

Information from Salini Computers Ltd. follows:

Instructions
(a) Prepare the entries for Salini Computers Ltd., assuming the gross method is used to record sales and cash discounts.
(b) Prepare the entries for Salini Computers Ltd., assuming the net method is used to record sales and cash discounts.

1 5 10 17 26 Aug. 30 Sold $82,000 of computers to Robertson Corp., terms 2/15, n/30. Robertson Corp. returned for full credit one computer with an invoice price of $6,200. Salini received payment from Robertson for the full amount owed from the July transactions. Sold $160,000 in computers and peripherals to Nawaz Store, terms 2/10, n/30. Nawaz Store paid Salini for half of its July purchases. Nawaz Store paid Salini for the remaining half of its July purchases. July

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