1 Ch. 8 Trade and Purchase Discounts; Gross and Net Methods s: On 12/28/24, Jansco Corporation purchased 10 units of a new communication system 40,000 each, but Jansco received a 20% trade discount. The terms of each sale were 1/ Jansco uses a perpetual inventory system. red: Compare the journal entries required under the Gross Method and the Net Method to record the a) purchase by Jansco on 12/28/24, b) payment made on 1/5/25, and c) payment is made on 1/12/25