Appendix 1: Gross method for sales discounts Schofield Co. sold merchandise on account to Bernard Retail Inc. for $15,000, terms 2/10, n/30. The cost of the merchandise sold was $8,000. Assuming Schofield Co. uses the gross method of recording sales discounts. a. Journalize the entries to record (1) the sale, including (2) the cost of the goods sold. If an amount box does not require an entry, leave it blank. (1) Accounts Receivable-Bernard Retail Inc. Sales 1 Cost of Goods Sold Inventory Feedback Check My Work a. Two entries are required: (1) for the sale on account and (2) to record the cost of the merchandise sold and the decrease in inventory in the seller's records. b. Journalize the entries to record the receipt of payment assuming it is made within the discount period. If an amount box does not require an entry, leave it blank. Cash Sales Accounts Receivable-Bernard Retail Inc. c. Journalize the entries to record the receipt of payment assuming it is made beyond the discount period. If an amount box does not require an entry, leave it blank. Cash Accounts Receivable-Bernard Retail Inc