Help with Question C

payment using the gross method. of no entry is required, select 'No entry' for the occount titles and enter O for the amounts. Round manually thit all debit entries before credit entries. Shelfield Industries purchased $14,900 of merchandise on February 1,2025, subject to $ trade discount of 10% and with credit terms of 3/15,n/60. it returned $2,900 (gross price before trade or cash discount) on February 4 . The invoice was paid on February 13. (a) Your answer is correct: Assuming that Shefficld uses the perpetual method for recording merchandise transactions, record the purchase, return, and poyment using the gross method, af no entry is required, select "No entry" for the account titles and enter Ofor the amounts, Round manually, tist all debit entries before credit entries.) At what amount would the purchase on february 1 be recorded if the net method were used? (Round answer to 2 decimal places. es. 6.578.25] Net price List of Accounts Attempts: unlimited Assuming that Shefficld uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross micthod. If no entry is required, select "No entry" for the occount titles and enter Ofor the amounts. Round onswers to 2 decimal places, es, 6,578.25. Credit occount titles are automatically indented when amount is entered, Do not indent manually List all debit entries before credit entries)