Question Status: V2V 3V . ? ? 1:29 PM expenses For this question, do not worry about computing recording the cost of the goods sold. It will just be ignored. Record the effect on the accounting equation of the two following transactions using the GROSS method for recording sales discounts.(You must fill in any unused answer blocks in with zeros.) Record any revenues directly into Retained Earnings. 1. The McConnell Company makes a sale on June 7 for $19500 with the terms 3/10 n/30. 2. The McConnell Company receives the payment in full on June 15 for the items sold above. Assets = Liabilities + Equity Cash Accounts Receivable Accounts Payable Contributed Capital Retained Earnings 1 2 3. What is the Net sales reported on the income statement for these transactions? CHECK