During the month of June, 2020, SB to and D&D Merchandise entered into the following transactions:

June 5 SB purchased merchandise on account from D&D, P243,000. Terms: FOB shipping point; 3/10, n/30. Paid freight charges amounts to P4,000

June 7 SB purchased merchandise on account from D&D, P470,000. Terms: FOB destination; 3/10, n/30. Freight charges amounted to P7,000

June 8 SB returned P18,000 of merchandise to D&D from June 5 purchase

June 10 SB paid D&D the amount due on the June 5 transaction

June 11 D&D paid the transportation charges on the June 7 shipment

June 14 SB paid D&D the amount due from the June 7 shipment

June 21 SB purchased merchandise from D&D on account, P270,000. Terms: 20% trade discount; FOB shipping point; 3/10, n/30

June 25 Freight charges on the June 21 transaction amounted to P3,000 and were paid by SB.

June 26 SB paid D&D the amount due on the June 21 transaction.

Required:

1. Prepare the journal entries for SB store.

2. Prepare the journal entries for D&D.​

Expert computers was started in 2018. the company experienced the following accounting events during its first year of operation: started business when it acquired $40,000 cash from the issue of common stock. purchased merchandise with a list price of $32,000 on account, terms 2/10, n/30. paid off one-half of the accounts payable balance within the discount period. sold merchandise on account for $28,000. credit terms were 1/20, n/30. the merchandise had cost expert computers $16,000. collected cash from the account receivable within the discount period. paid $2,100 cash for operating expenses. paid the balance due on accounts payable. the payment was not made within the discount period. required record the events in a horizontal statements model below. in the cash flows column, use the letters oa to designate operating activity, ia for investing activity, fa for financing activity, or nc for net change in cash. if the account is not affected by the event, leave the cell blank. the first event is recorded as an example. what is the amount of gross margin for the period? what is the net income for the period?