Sampson Co. sold merchandise to Batson Co. on account, $22,900, terms 2/15, net 45. The cost of the goods sold is $17,175. The Batson Co. paid the invoice within the discount period. Assume both...

1. Sampson Co. sold merchandise to Batson Co. on account, $22,900, terms 2/15, net 45.


2. The cost of the goods sold is $17,175.


3. The Batson Co. paid the invoice within the discount period.

Assume both Sampson and Batson use a perpetual inventory system.

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