On February 14, Urlach Corp. purchases $7,800 of inventory on account with terms 3/10, N/30. On...

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On February 14, Urlach Corp. purchases $7,800 of inventory on account with terms 3/10, N/30. On February 28, the company pays off their full balance due from the purchase. Assume the company uses the gross method for discounts and the perpetual method for inventory. Record the February 28 entry for the payment. You may round amounts to the nearest dollar. Please copy and paste the blank table below into your answer field and type in the necessary information. Note that not all lines may be needed. Date Account Debit Credit On February 14, Urlach Corp. purchases $7,800 of inventory on account with terms 3/10, N/30. On February 28, the company pays off their full balance due from the purchase. Assume the company uses the gross method for discounts and the perpetual method for inventory. Record the February 28 entry for the payment. You may round amounts to the nearest dollar. Please copy and paste the blank table below into your answer field and type in the necessary information. Note that not all lines may be needed. Date Account Debit Credit

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Date account title Debit Credit Feb 1... View the full answer