On December 28, 2021, Videotech Corporation (VTC) purchased 12 units of a new satellite uplink system from Tristar Communications for $25,000 each. The terms of each sale were 2/10, n/30. VTC uses the net method to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2022. Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

On December 28,2021 , Videotech Corporation (VTC) purchased 12 units of a new satellite uplink system from Tristar Communications for $25,000 each. The terms of each sale were 2/10,n/30. VTC uses the net method to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6,2022. Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the inventory purchase on account. Note: Enter debits before credits. Journal entry worksheet Record the payment to Tristar Communications. Note: Enter debits before credits