On May $10,$ Oriole Co$.$ buys $$800$ of merchandise on account from Sage Hill Supply, terms $\frac{2}{10},\frac{n}{30}.$ Oriole pays Sage Hill on

May $18.$ The buyer uses the perpetual inventory method.

a$.$ Prepare the entry to record the purchase of merchandise. $($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. List debit entry

before credit entry.$)$

Date

Account Titles and Explanation

Debit

Credit

May $10$

b$.$ Prepare the entry to record the payment by Oriole, if Oriole pays within the discount period. $($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. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

May $18$