Question: Brief Exercise 8-5 (Algo) Purchase discounts; net method (L08-3) On December 28, 2021, Videotech Corporation (VTC) purchased 12 units of a new satellite uplink system


Brief Exercise 8-5 (Algo) Purchase discounts; net method (L08-3) On December 28, 2021, Videotech Corporation (VTC) purchased 12 units of a new satellite uplink system from Tristar Communications for $27,000 each. The terms of each sale were 1/10,n/30. VTC uses the net method to account for purchase discounts and a perpetual Inventory system. VTC paid the net-of-discount amount on January 6, 2022 Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Journal entry worksheet
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