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Bramble Industries purchased $9,100 of merchandise on February 1, 2020, subject to a trade discount of 10% and with credit terms of 3/15, 1/60. It
Bramble Industries purchased $9,100 of merchandise on February 1, 2020, subject to a trade discount of 10% and with credit terms of 3/15, 1/60. It returned $2,300 (gross price before trade or cash discount) on February 4. The invoice was paid on February 13. Assuming that Bramble uses the perpetual method for recording merchandise transactions, record the purchase, return, and payment using the gross method. (If no entry is required, select "No entry for the account cities and enter for the amounts. Round answers to decimal places g. 6,578 Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Assuming that Bramble uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross method. (If no entry is required, select "No entry for the account tities and enter for the amounts. Round answers to decimal places g. 6,578 Credit account titles are automatically indented when amount is entered, Do not indent manually) Date Account Titles and Explanation Debit At what amount would the purchase on February 1 be recorded if the net method were used? (Round answer to o decimal places, e.g. 6,578.) By Study Net price Click if you would like to show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Question Attempts: 0 of
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