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Windsor Industries purchased $9,700 of merchandise on February 1,2025 , subject to a trade discount of 10% and with credit terms of 3/15,n/60. It returned
Windsor Industries purchased $9,700 of merchandise on February 1,2025 , subject to a trade discount of 10% and with credit terms of 3/15,n/60. It returned $2,700 (gross price before trade or cash discount) on February 4 . The invoice was paid on February 13. Assuming that Windsor uses the perpetual method for recording merchandise transactions, record the purchase, return, and payment using the gross method. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 6,578.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) eTextbook and Media Assuming that Windsor 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" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 6,578.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) List of Accounts At what amount would the purchase on February 1 be recorded if the net method were used? (Round answer to 2 decimal places, eg. 6,578.25.)
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