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On February 28th, 2022 Videotech Company purchased 200 consoles from Univar Co. for $50 each. The terms of the sale were 2/10 n/30. Videotech
On February 28th, 2022 Videotech Company purchased 200 consoles from Univar Co. for $50 each. The terms of the sale were 2/10 n/30. Videotech uses the net method to account for purchase discounts. a. Prepare the journal entry for the purchase of these consoles on February 28th. b. Prepare the journal entry assuming Videotech pays for the consoles on March 8th, that is before the end of the discount period. c. Prepare the journal entry assuming Videotech pays for the consoles on March 20th, that is after the end of the discount period. 12pt v Paragraph B
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