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1 11. (2) Consider a sale of $1,000 made on May 1, 2021, with payment terms of 2/10 net 30. If payment is received by May 10, 2021, the cash received and the recognized revenue under gross method would be respectively. A 980 and 1,000 B 1,000 and 980 1,000 and 1,000 980 and 980 | 12. (2) Which of the following is the potential benefits of a perpetual inventory system:( ) A A perpetual system helps to determine the amount of shrinkage B A perpetual system is less costly than a periodic system A perpetual system save time for inventory management D A perpetual system is required by IFRS and ASPE