Question: just answer last part please Assuming that Sheffield uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross



Assuming that Sheffield uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross method. Of no entry is required, select "No entry" for the account tities and enter Ofor the amounts, Round answers to 2 decimal places, es. 6,578.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. List 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 eTextbook and Media List of Accounts Sheffield Industries purchased $14,900 of merchandise on February 1,2025. subject to a 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. Your answer is correct. Assuming that Sheffield uses the perpetual 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 occount titles and enter ofor the amounts. Round answers to 2 decimal places, es, 6,578.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Assuming that Sheffield uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross method. (lf no entry ls required, select "No entry" for the account titles and enter Ofor the amounts. Round answers to 2 decimal ploces, es. 6,578. 25, 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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