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Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 2/10, n/60 and an invoice price of 521 spo. The merchandise had cost Mesa $14,731. Assume that both buyer and seller use a perpetual imventory system and the pross method 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (d) cash payment after the discount period. 2. Prepare entries that the seller records for the (a) sale, (b) cash collection within the discount period, and I d cash collection after the discount period. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount period, and (c) onh payment after the discount period. Journal entry worksheet Record Santa Fe Retailing's purchase of merchandise "as is" (with no returns) from Mesa Wholesalers with credit terms of 2/10,n/60 and an involce price of $21,600. Note: Enter debits before credits: Santa Fe Retailing purchased merchandise from Mesa Wholesalers with credit terms of 2/10,n/60 and an involice price of $21,600. The merchandise had cost Mesa $14,731. Assume that both buyer and seller use a perpetual inventory system and the gross method. 1. Prepare entries that the buyer records for the (a) purchase, (b) cash payment within the discount perlod, and (c) cash payment after the discount period. 2. Prepare entries that the seller records for the (a) sale, ( b ) cash collection within the discount period, and (c) cash collection after the discount period. Complete this question by entering your answers in the tabs below. Prepare entries that the seller records for the (a) sale, (b) cash collection within the discount period, and (c) canh coliection anter the discount period. Journal entry worksheet Record Mesa Wholesaler's sale of merchandise "as is" (with no returns) to Santa Fe Retailing with credit terms of 2/10,n/60 and an invoice price of $21,600

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