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Perpetual and Periodic Systems - Recording Inventory - Related Entries using the Gross Method The following transactions are from Sharper Vision Corporation. 1 . Purchased

Perpetual and Periodic Systems-Recording Inventory-Related Entries using the Gross Method The following transactions are from Sharper Vision Corporation. 1. Purchased inventory on December 10,2020, with a list price of $2,250, a trade discount of 20%, and with terms 2/10, n/30.2. Returned $300 of inventory to the supplier on December 15,2020.3. Paid $1,200 cash on account on December 19,2020.4. Paid the remaining balance on January 5,2021. Round answers to the nearest whole dollar. Perpetual inventory system Periodic inventory system a. Prepare journal entries for the transactions 1 through 4, assuming that the company uses the perpetual inventory system and the gross method for recording purchase discounts. Date Account Name Dr. Cr. Dec. 10,20202,0000 Inventory Accounts Payable # 02,000 Dec. 15,2020 Accounts Payable 3000300 Inventory Dec 19,2020 Accounts Payable O 0 Inventory C 7 Cash -: Jan 5,2021 Accounts Payable Cash Please answer all parts of the question. OOOOOO 0001,20000Perpetual and Periodic Systems-Recording Inventory-Related Entries using the Gross Method The following transactions are from Sharper Vision Corporation. 1. Purchased inventory on December 10,2020, with a list price of $2,250, a trade discount of 20%, and with terms 2/10, n/30.2. Returned $300 of inventory to the supplier on December 15,2020.3. Paid $1,200 cash on account on December 19,2020.4. Paid the remaining balance on January 5,2021. Round answers to the nearest whole dollar. Perpetual inventory system Periodic inventory system b. Prepare journal entries for the transactions 1 through 4, assuming that the company uses the periodic inventory system and the gross method for recording purchase discounts. Account Name Dr. Cr. Date Dec. 10,2020+00 Dec 15,2020++ Dec. 19,2020-: -: Cash Jan 5,2021 Please answer all parts of the question. 00+ DOO 00 OOOOO 0000000000000

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