scounts: Gross price and net price methods General Journal : Preparo the joumat entries fo record the purchase on March 14 and the payment on March 22 under the gross price mothod assuming a poniodic invontory systom. Additional instructio Prepare the joumal anthies fo record the purchase on March 14 and the payment on March 22 under the net price mothod assuming a peniodic inventory systom. Adotional insticiction Prepare the journal enteries to record tho purchase on March 14 and the payment on March 22 undor the gross price method assuming a perpetual inventory systom. Additional instructio Hirsoh Company buys inventory for $20,000 on terms of 1/10,n/30. It pays within the discount period. Required: 1. Propare the joumal entries to record the purchase and the payment under both the (a) gross price and (b) net price methods. Assume that Hirsch uses a periodic inventory systom. 2. Prepare the joumat entries to record the purchase and paymont under both the (a) gross prico and the (b) net price methods, Assume that Hirsch uses a porpotual inventory systom