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Please answer full question, Please show how to calculate answers if possible Ivanhoe Co. purchased $67,000 of inventory on July 1, 2017, subject to a

image text in transcribedimage text in transcribedPlease answer full question, Please show how to calculate answers if possible

Ivanhoe Co. purchased $67,000 of inventory on July 1, 2017, subject to a trade discount of 5% and with credit terms of 2/10, n/30. Bolt paid the invoice on July 10. Assuming that Ivanhoe uses the perpetual method for recording inventory transactions, record the purchase and payment using the gross method. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Assuming that Ivanhoe uses the periodic method for recording inventory transactions, record the purchase and payment using the gross method. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

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