Presented below are transactions related to Tom Brokaw, Inc. and Dan Rather Corp. Dan Rather offers cash discount terms of 2/10, n/30 to its customers.

May 10	Tom Brokaw purchased goods from Dan Rather for $15,000. The cost of the goods to Dan Rather is $3,000.
11	Tom Brokaw returned $1,500 of goods to Dan Rather (cost = $300).
19	Tom Brokaw paid the May 10 purchase, net of returns.
20	Tom Brokaw purchased goods from Dan Rather for $13,200. The cost of the goods to Dan Rather is $2,000.

As of May 31, Tom Brokaw has not paid Dan Rather for the May 20 purchase. A physical count revealed inventory of $26,430 (gross) and $26,166 (net).

1: Journalize the transactions assuming the use of a perpetual inventory system under the gross method.

2: Journalize the transactions assuming the use of a perpetual inventory system under the net method.

3: Journalize the transactions assuming the use of a periodic inventory system under the gross method. Skip the end of the month journal entry to record COGS and update Inventory.

4: Journalize the transactions assuming the use of a periodic inventory system under the net method. Skip the end of the month journal entry to record COGS and update Inventory.

Date	Account	Debit	Credit
	TOM BROKAW

Date	Account	Debit	Credit
	TOM BROKAW

Date	Account	Debit	Credit
	TOM BROKAW

Date	Account	Debit	Credit
	TOM BROKAW