Purchased goods for resale on credit for $5,000 terms 2/10, n 30 Company uses the perpetual inventory system and the gross method Paid for goods purchased for resale on credit for $5,000 terms 2/10, n 30 Payment made within the discount period Company uses the perpetual inventory system and gross method Goods purchased on credit for $ 5,000 terms 2/10 n 30 and that was paid for within the discount period is now sold on credit at a mark up of 60 percent. Company uses the perpetual inventory system Company exchanged equipment purchased for $ 45,000 ( accumulated depreciation of 24,000) fair value of $ 17,000 and cash of $ 5,000 for motor vehicle. Assume the transaction has commercial substance. For this- Purchased goods for resale on credit for $5,000 terms 2/10, n 30 Company uses the perpetual inventory system and the gross method- What account is debited Answer 1 Question 21 Choose... For this- Purchased goods for resale on credit for $5,000 terms 2/10, n 30 Company uses the perpetual inventory system and the gross method- What account is credited Answer 2 Question 21 Choose... For this -Paid for goods purchased for resale on credit for $5,000 terms 2/10