Question: Columbia Company provided services with a list price of $48,500 to Small Enterprises with terms 2/15, n/45. Columbia records sales to be reported in the

Columbia Company provided services with a list price of $48,500 to Small Enterprises with terms 2/15, n/45. Columbia records sales to be reported in the financial statements.

Required:

1.Prepare the entries to record this sale in Columbia's journal.

please help

Columbia Company provided services with a list price of $48,500 to Small

9 Exercise 5-64 Sales Discount Recorded Objective 2 , 4 :Columb tompany provided} 'servicesj with a list price of $48,500 to Small Enterprises with terms 2/15, n/ 45. @011\"!!ng records sales to be reported in the financial statements. Required: 1. Prepare the entries to record this sale in Columbi's journal. 2. Prepare the entry for polumb 's journal to record receipt of cash in payment for the sale within the discount period. 3. Prepare the entry for tolumbiaj's journal to record receipt of cash in payment for the sale after the discount period. __ ' _ _"l 4. Assume that tofurotis customer does not have the available cash to pay tolumbial within the discount period. How much interest should the customer be willing to pay for a loan to permit them to take advantage of the discount period (assuming no additional costs to the loan)

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