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7. If items were purchased for $100 with terms 2/10 n/30. Show the entry for the purchase under the following assumptions: HINT: remember that periodic/perpetual
7. If items were purchased for $100 with terms 2/10 n/30. Show the entry for the purchase under the following assumptions: HINT: remember that periodic/perpetual has to do with accounts used and grosset has to do with the initial $ amount in the journal entry. a. Perpetual/Gross method b. Periodic/Net method Show the entry for the purchase discount under the following assumptions: c. Periodic/Gross method d. Perpetual/Net method
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