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Journalize the following transactions under (a) gross method and (b) net method, respectively. (1) On Oct. 11, Boston Co. purchases inventory at a cost of

Journalize the following transactions under (a) gross method and (b) net method, respectively.

(1) On Oct. 11, Boston Co. purchases inventory at a cost of $20,000, terms 2/10, net 30.

(2) On Oct. 20, Boston Co. pays invoices of $15,000 regarding the purchase of Oct. 11.

(3) On Nov. 9, Boston Co. pays invoices of $5,000 regarding the purchase of Oct. 11.

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