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ct to trade discount of 10% and with credit terms of 2015, 1/60. It returned...

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Accounting

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ct to trade discount of 10% and with credit terms of 2015, 1/60. It returned $1,000 (gross price before trade or Wildhorse Industries purchased $8,300 of merchandise on February 1, 2020, w cash discount) on February 4. The invoice was paid on February 13 Assuming that Wildhorse uses the perpetual method for recording merchandise transactions, record the purchase, retum, and payment using the gross method. If no antry required, select "No entry for the accounts and enter for the amounts. Round answers to decimal places, ... Credit account titles are automatically indented when amount is entered. Do not indent many ) Date Account Tities and Explanation Assuming that Wildhorse uses the periodic method for recording merchandise transactions, record the purchase, retum, and payment using the gross method (ne entry is required, select "No entry for the account titles and entero wers to deal places, ..6.578. Credit account titles are automatically indented when amount is entered, Do not inden manually) decimal places, 8,578) At what amount would the purchase on February 1 be recorded if the net method were used? (Round answer to Shaw n Chow

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