ive already completed the journalizing just need help with the posted questions

eBook Calculator Discounts General Journal Analysis Next Level Instructions On April 11, Edwards Construction Company purchased inventory for $30,000 on terms of 2/10, 1/30. It pays the account balance on April 21. Edwards uses a periodic inventory system Required: 1. Prepare the journal entries to record the purchase and payment using (a) gross price and (b) net price 2. If the company sold half the inventory during April for $20,000, how much income would it recognize under each method? 3. Assume that the invoice was misfiled and, as a result, the company did not pay un April 30. Prepare the journal entries to record the purchase and payment under each of the methods 4. If the company sold half the inventory during Apni for $20,000, how much income would it recognize under each method? 5. Next Level Why was there a difference in income for the two methods as reported in Requirement ? COOTDTU Apr. 30 Accounts Payable 30,000.00 300000 Cach Check My Work + 0 0 BA General Journal Analysis Next Level Instructions Analysis Shaded cells have feedback 2. Assume the invoice was paid on April 21: If the company sold half the inventory during April for $20,000, how much income would it recognize under each method? Under the gross price method, income recognized would be $5,600 X Points: 071 Under the net price method, income recognized would be 52 250 X Points 0 7 Feedback Check My Work Apr.su Accounts Payable no Cach Check My Work DLL General Journal Analysis Next Level Instructions Analysis 4. Assume the invoice was paid on April 30: if the company sold all the inventory during April for $20,000, how much income would it recognize under each method? Shaded cels have feedba Under the gross price method, income recognized would be $5,000 Under the net price method, income recognized would be Points 1/1 $5.600 Feedback Points Check My Work Apr 30 ACOOR Check My Work DELL