Question: Help Save&Ext Subme Test 2-Spring 2018 6 Santa Fe Retailing purchased merchandise as iswith no returns) from Mesa Wholesalers with credit terms of 310, n/60
Help Save&Ext Subme Test 2-Spring 2018 6 Santa Fe Retailing purchased merchandise "as is"with no returns) from Mesa Wholesalers with credit terms of 310, n/60 and an invoice price of $16,500. The merchandise had cost Mesa S11,253 Assume that both buyer and seller use a perpetual nventory system and the gross method. t. Prepare entries that the buyer records for the (a) purchase. (b) cash payment within the discount period, and () cash payment aher the discount period 2Prepare entries that the seller records for the after the discount period sale, cash colection within the discount per od, aneeash co edon a otte Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (c) cash payment aber the discount period. Required 2
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