Sunland Industries purchased $10,700 of merchandise on February 1,2025, subject to a trade discount of...
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Accounting
Sunland Industries purchased $ of merchandise on February subject to a trade discount of and with credit terms of It returned $gross price before trade or cash discount on February The invoice was paid on February
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Assuming that Sunland 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 for the amounts. Round answers to decimal places, eg Credit account titles are automatically indented when amount is entered. Do not indent manually, List all debit entries before credit entries.
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