Problem
Presented below is information from Perez Computers Incorporated. Sold $20,000 of computers to Robertson Company with terms 3/15, n/60. Perez uses the gross method to record cash discounts. Perez received payment from Robertson for the full amount owed from the July transactions. Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. The Clark Store paid Perez for its purchase of July 17. Prepare the necessary journal entries for Perez Computers.