Exercise 8-8 $3,000 (gross price before trade or cash discount) on February 4. The invoice was paid on February 13. Assuming that Shamrock uses the perpetual method for recording merchandise transactions, record the purchase, return, and payment Shamrock Industries purchased $11,700 of merchandise on February 1, 2017, subject to a trade discount of 109% and with credit terms entry is required, select "No entry" for the account titles and enter O for the amounts. Round answers are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Feb. 1 # Inventory 10530 Accounts Payable 10530 Feb. 4 Accounts Payable 2700 2700 Inventory 7830 Feb. 13 Accounts Payable 234.90 Inventory 7595.10 Cash Exercise 8-8 $3,000 (gross price before trade or cash discount) on February 4. The invoice was paid on February 13. Assuming that Shamrock uses the perpetual method for recording merchandise transactions, record the purchase, return, and payment Shamrock Industries purchased $11,700 of merchandise on February 1, 2017, subject to a trade discount of 109% and with credit terms entry is required, select "No entry" for the account titles and enter O for the amounts. Round answers are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Feb. 1 # Inventory 10530 Accounts Payable 10530 Feb. 4 Accounts Payable 2700 2700 Inventory 7830 Feb. 13 Accounts Payable 234.90 Inventory 7595.10 Cash