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On December 28, 2024, Videotech Corporation (VTC) purchased 13 units of a new satellite uplink system from Tristar Communications for $22,000 each. The terms
On December 28, 2024, Videotech Corporation (VTC) purchased 13 units of a new satellite uplink system from Tristar Communications for $22,000 each. The terms of each sale were 1/10, n/30. VTC uses the gross method to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2025. Prepare the journal entries on December 28 and January 6 to record the purchase and payment. Note: If no entry is required for a transaction/event, select "No Journal entry required" In the first account field. View transaction list Journal entry worksheet < Videotech Corporation (VTC) purchased 13 units of a new satellite uplink system from Tristar Communications for $22,000 each. The terms of each sale were 1/10, n/30. Record the purchase on December 28, 2024. Note: Enter debits before credits Date General Journal December 28, 2024 Inventory Debit 286,000 Credit Accounts payable 286,000 ces Journal entry worksheet < 2 Videotech Corporation (VTC) purchased 13 units of a new satellite uplink system from Tristar Communications for $22,000 each. The terms of each sale were 1/10, n/30. Record the payment on January 6, 2025. Note: Enter debits before credits. Date January 06, 2025 General Journal Debit Credit 286,000 2,860 Accounts payable Inventory Cash > No Date 1 December 28, 202 Inventory Accounts payable 2 January 06, 2025 Accounts payable Inventory Cash Answer is not complete. General Journal Debit 286,000 Credit 286,000 286,000 2,860 283,140
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