Question 5 1 point Trade discounts are entered in the accounting system. True False Question 6 point The terms 2/10, 1/30 means that the seller offers the purchaser a 2% cash discount if the amount is paid in full within 10 days. Otherwise, the full amount is due in 30 days. True False Question 7 (1 point FOB shipping or FOB factory means ownership of goods transfers to the buyer when goods reach the buyer's place of business. True False Question 8 (1 point) Each sales transaction for sellers using a perpetual inventory system involves recognizing revenue and cost of goods sold. True False