Question: Please help me with this problem! I just want to understand how to do this problem and I am having a hard time. Thank you

Please help me with this problem! I just want to understand how to do this problem and I am having a hard time. Thank you in advance!

Cruise Industries purchased $9,120of merchandise on February 1, 2014, subject to a trade discount of9% and with credit terms of3/15, n/60. It returned $3,100(gross price before trade or cash discount) on February 4. The invoice was paid on February 13.

Assuming that Cruise uses the perpetual method for recording merchandise transactions, record the purchase, return, and payment using the gross method.

Date	Account Titles and Explanation	Debit	Credit
Feb. 1

Feb. 4

Feb. 13

Assuming that Cruise uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross method.

Date	Account Titles and Explanation	Debit	Credit
Feb. 1

Feb. 4

Feb. 13

At what amount would the purchase on February 1 be recorded if the net method were used?

Net price

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