Refer to the situation described in BE 8–10. Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts.

Data from in BE 8-10

On December 28, 2024, Videotech Corporation (VTC) purchased 10 units of a new satellite uplink system from  Tristar Communications for $25,000 each. The terms of each sale were 1/10, n/30. VTC uses the gross method  to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2025. Prepare the journal entries on December 28 and January 6 to record the purchase and payment.