On December $28,2024,$ Videotech Corporation $($VTC$)$ purchased $12$ units of a new satellite uplink system from Tristar Communic

$10$

for $$30,000$ each. The terms of each sale were $\frac{2}{10},\frac{n}{30}.$ VTC uses the net method to account for purchase discounts and a perpetual inventory system. VTC paid the net$-$of$-$discount amount on January $6,2025.$

points

Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts. Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Answer is complete but not entirely correct.YouOn December $28,2024,$ Videotech Corporation $($VTC$)$ purchased $12$ units of a new satellite uplink system from Tristar Communica

for $$30,000$ each. The terms of each sale were $\frac{2}{10},\frac{n}{30}.$ VTC uses the net method to account for purchase discounts and a

perpetual inventory system. VTC paid the net$-$of$-$discount amount on January $6,2025.$

Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Videotech Corporation $($VTC$)$ purchased $12$ units of a new satellite uplink

system from Tristar Communications for $$30,000$ each. The terms of each sale

were $\frac{2}{10},\frac{n}{30}.$ Record the payment on January $6,2025.$

Note: Enter debits before credits.

On December $28,2024,$ Videotech Corporation $($VTC$)$ purchased $12$ units of a new satellite uplink system from Tristar Communications

for $$30,000$ each. The terms of each sale were $\frac{2}{10},\frac{n}{30}.$ VTC uses the net method to account for purchase discounts and a

perpetual inventory system. VTC paid the net$-$of$-$discount amount on January $6,2025.$

points

Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Videotech Corporation $($VTC$)$ purchased $12$ units of a new satellite uplink

system from Tristar Communications for $$30,000$ each. The terms of each sale

were $\frac{2}{10},\frac{n}{30}.$ Record the payment on January $6,2025.$

Note: Enter debits before credits.

points

On December $28,2024,$ Videotech Corporation $($VTC$)$ purchased $12$ units of a new satellite uplink system from Tristar Communications

for $$30,000$ each. The terms of each sale were $\frac{2}{10},\frac{n}{30}.$ VTC uses the net method to account for purchase discounts and a

perpetual inventory system. VTC paid the net$-$of$-$discount amount on January $6,2025.$

Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Videotech Corporation $($VTC$)$ purchased $12$ units of a new satellite uplink

system from Tristar Communications for $$30,000$ each. The terms of each sale

were $\frac{2}{10},\frac{n}{30}.$ Record the payment on January $6,2025.$

Note: Enter debits before credits.