This is a graded discussion: 10 points possible. Ch. 5 Discussion - (Due 7/3) A+ 1. Working capital is Current Assets Current Liabilities. Why would a Classified Balance Sheet make calculating this amount much easier? 2. What is the difference between a sales discount and a purchase discount? 3. What is the difference between the single-step and multiple-step Income Statement formats? 4. Using Periodic, what would the journal entry be to record $1,000 sales on credit to a customer that cost the company $300? 5. Using Perpetual, what would the journal entry be to record $1.000 sales on credit to a customer that cost the company $300? Remember respond to 3-4 of your classmates' posts and remain professional at all times in your posts, following the proper internet etiquette. Here's Dubrire in Canvas and Viewing Instructor Comments in Canvas.) 35