Answer:
The Journal Entry and their narrations is shown below:-
Explanation:
The Journal entry is shown below:-
a. 1.Accounts Receivable Dr, $3,300
                    To Sales  $3,300
(Being sales is recorded)
Cash Dr, $3,234
Sales Discount Dr,  $66
(3,300 × 2%)
             To Accounts Receivable $3,300
(Being Payment received is recorded)
2. Accounts Receivable Dr,	$3,234
=(3,300 × 0.98)
             To Sales $3,234
(Being sales is recorded)
Cash Dr, $3,234    
         To Accounts Receivable $3,234  
(Being payment received is recorded)
b. Cash Dr, $3,300  
        To Accounts Receivable $3,234  
         To Sales Discounts Forfeited 66
(Being payment received is recorded)