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Record the following transactions in the general ledger that appears immediately after the transactions.

a. Goods sold on credit (on account), for $100,500 with terms 3/15, n/30. Cost of goods sold was $45,000.

b. Record the payments made by the clients, assuming they paid the entire amount within the discount period.

General Journal

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Transaction	Account	Debit	Credit
a	Accounts Receivables	100,500
	Sales		100,500
	To record the sale of goods.

a	Cost of Goods Sold	45,000
	Inventory		45,000
	To record the cost of inventory sold.

b	Cash	97,485
	Sales Discount	3,015
	Accounts Receivables		100,500
	To record the collection of receivables.

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