Problem 5-88A (Algorithmic) Sales Discounts ( A S A) 30 and records Dura t Sims Company regular se merchandise to uber Supoly on 2/15. the two firms engaged in the following transactions: Sims sold merchandise with a list price of $14,000 Sms sold merchandisew list price of $48.000 Lauber paid for the purchase in Transaction within the discount period d. Lauber paid for the purchase in Transaction after the discount period Required: 1. Provide the jumatates for Sams to record the sales in Transactions and Records 2. Provide the journ e y to Rec t ion of cash discount period 3. Provide the jouma entry to record the receipt of Lauber's Dayment Check My Work more Check My Wo n g grosso Previous Next) Submit Ansignment for Grading Scor: 28% saved Emai structor Save and tot R. o FoHK option - - 2. Provide thermal leave it ank try to record the root of payment in Transaction. If an amount bow does not require an entry Recordation of sh o rt 3. Provide the mal entry to record the rest of t he corection of the d rid 4. Conceptual Connection: What implied annual interest rate is be i ng by paying the gross amount atrodys Assume d and round the to the a decat ccount and instead toms Check My Workmore Check My Wo r ming Previous Next mai atractor Save and we submit Augment for Grading N