Exercise 7-5 On June 3, 8 from John Boeth T e onice for the froight cost On Juna 12 0D With tere check for the balan dua from Chester ang $99, terms n/30, was received indise na company recei ny Prepare journal entries on the Grouper Company books to record all the events noted above under each of the following bases. (1) Sales and receivables are entered at gross selling price. (2) Sales and receivables are entered at net of cash discounts. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Prepare journal entries on the Grouper Company books to record all the events noted above under each the following bases. (1) Sales and receivables are entered at gross selling price (2) Sales and receivables are entered at net of cash discounts. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do no indent manually.) Debit No Date Account Titles and Explanation Credit (1) June 12 (2) Prepare the journal entry under basis 2, assuming that Chester Company did not remit payment until July 29. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation July 29 Open Show Work Click you would Ilike to Show Work for this question: SHOW LIST ACCOUNTS LINK TO TEXT