Hirsch Company buys inventory for $10,000 on terms of 1/10, n/30. It pays within the discount period.

	Required:
1.	Prepare the journal entries to record the purchase and the payment under both the (a) gross price and (b) net price methods. Assume that Hirsch uses a periodic inventory system.
2.	Prepare the journal entries to record the purchase and payment under both the (a) gross price and the (b) net price methods. Assume that Hirsch uses a perpetual inventory system.