Assume the company uses the periodic inventory method

Dec 10: Purchased 10,000 of merchabdise on account; terms 2/10, n\30

Dec 14: Returned 2,000 of merchandise purchased on december 10

Dec 22: purchaed 20,000 of merchandise on account terms 1/15 n/60

as of december 31, none of the amounts incurred dhring december were paid. assune all appropriate entries were made on the dates above including ant becessary minth end adjustments

1) if the moss comlant records purchaes at gross

a) determine the amount of accounts payable that will appear on the balance sheet dates december 31 20x1

b) determine the amount of bet purchases for the month of december

2) if the moss company record purchase at net

a) determinr the amount of account payable that will appear on the balance sheet dates december 31 20x1

b) determine the amount of net purchases for the month of december :