Val Industries purchased $7,800 of merchandise on February 1, 2020, subject to a trade discount of 10% and with credit terms of 3/15, n/60. It returned $2,100 (gross price before trade or cash discount) on February 4. The invoice was paid on February 13.

(a) Assuming than Val uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross method. (if no entry is required select 'no entry' and enter 0 for the amounts).

(b) At what amount would the purchase on February 1 be recorded if the net method was used?

*Please show your work and complete section A and B. Thank you