Master Grill sells its specialty combination gas/wood-fired grills to local restaurants. Each grill is sold for $1,200 (cost $670) on credit with terms 2/20, net/60. Prepare the journal entries for the sale of 20 grills on August 1, 2018, and upon payment, assuming the customer paid on (1) August 20, 2018, and (2) September 29, 2018. Assume the company records sales net.

On june 3, teal company sold to chester company merchandise having a sale price of $2,600 with terms of 2/10, n/60, f.o.b. shipping point. an invoice totaling $91, terms n/30, was received by chester on june 8 from john booth transport service for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare journal entries on the teal company books to record all the events noted above under each of the following bases. (1) sales and receivables are entered at gross selling price. (2) sales and receivables are entered at net of cash discounts.