Question: Marigold Co. uses the gross method to record sales made on credit. On June 1, 2025, it made sales of $43,000 with terms 2/15,

Marigold Co. uses the gross method to record sales made on credit.

Marigold Co. uses the gross method to record sales made on credit. On June 1, 2025, it made sales of $43,000 with terms 2/15, n/45. On June 12, 2025, Marigold received full payment for the June 1 sale. Prepare the required journal entries for Marigold Co. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date June 1 Account Titles and Explanation Accounts Receivable Sales Revenue June 12 Cash Sales Discounts rec Debit 42140 42140 Credit 42140 42140

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