Question: On December 2 8 , 2 0 2 4 , Videotech Corporation ( VTC ) purchased 1 0 units of a new satellite uplink system

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 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.
Answer is complete but not entirely correct.
On December 2 8 , 2 0 2 4 , Videotech Corporation

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